The Ethiopian Horticulture Development Agency has stated that foreign currency earnings generated from the export of horticulture products has shown a 10.7 percent increase compared to the performance of last year. The export of cut flowers alone generated the highest revenue, accounting for 225 million USD while The export of fruits and vegetables as well as herbs generated 50 million USD. Approximately 49,000 tons of roses and 714.5 million cut flowers were exported in the given period .
Ethiopian Government has been supporting the sector with attractive incentives to increase in export volume.Attracted by the conducive investment climate and government incentives, Ethiopia reportedly is becoming a preferred investment hub for horticulture export. Currently, there are almost 130 horticulture companies in Ethiopia and several of them are owned by foreigners. Europe accounts for 80 percent share of Ethiopia’s horticulture export. The other destinations include North America, Middle and the Far East as well as some African and other countries also receive Ethiopian horticulture products.
Nevertheless, the production this year might suffer due to prolonged and heavy rains. Normally the production declines by 20-30 percent during the rainy season. But this year a 50 percent fall is expected in the production due to the rains. However, the shortage in supply of flowers has led to higher prices of almost 50%, touching almost the rate during Valentine’s day.
