- The sanctions imposed against Russia by Europe and the US in the wake of its invasion of Ukraine forced Kenya to turn to expensive sources of wheat, fertiliser and steel that led to high inflation. The cost of importing has also gone up by at least 30 percent as the dollar became more expensive.
Kenya’s imports from Russia dropped by Sh13.3 billion in the first quarter of 2022 driving up inflation to a 58-month high according to the latest data from the Kenya National Bureau of Statistics (KNBS). Imports from Russia dropped by 66 percent from Sh19.9 billion to Sh6.6 billion. The sanctions imposed against Russia by Europe and the US in the wake of its invasion of Ukraine forced Kenya to turn to expensive sources of wheat, fertiliser and steel that led to high inflation. The cost of importing has also gone up by at least 30 percent as the dollar became more expensive.
Kenyan exports to Russia also declined by three percent to Sh2.8 billion during the conflict period. Kenya’s exports of agricultural goods were particularly hit. Russia is the fifth-biggest buyer of Kenyan tea. Russia is the second market for Kenya’s Fuerte avocado variety, after the European Union bloc. The Kenyan traders have turned to the Middle East market for selling avocados at far lower prices. According to the chief executive officer of the Fresh Produce Consortium of Kenya, Ojepat Okisekere, the price for a kilogram of Fuerte avocado in the Middle East stands at $7 compared to $14 in Russia.
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