This archive report was first published on 3 July 2020.
As of July 3, 2020, Kenya's horticulture industry is estimated to be losing at least Ksh106 million per day due to the Covid-19 pandemic, a new report reveals.
Despite the gradual opening of most markets within the European Union, Kenya's main horticulture export market, the country is not out of the woods yet and is losing about $1 million (Ksh100 million) a day.
Lockdown Woes ¶
Shipments of flowers, vegetables, herbs, and fruits to the European Union, which accounts for more than 80% of horticulture exports from Kenya, all but ceased in March this year following the outbreak of the Covid-19 pandemic.
Most European capitals immediately went into total lockdown to stem the spread of COVID-19, resulting in a drastic reduction in Kenya's horticulture industry.
Kenyan farms have drastically reduced export volumes to 50%, with a sizeable number suspending exports altogether.
Scope Markets Kenya warns that if the current situation does not improve soon, companies are facing downsizing or closure, which will result in increased poverty, insecurity, and hunger.
Kenya's Gross Domestic Product (GDP) could fall, with most aggressive estimates showing a contraction of -1% due to the Covid-19 pandemic.
