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Kenya: Flower exporters sniff rich pickings on Valentine’s DayKenyan flower producers are forecasting good earnings from Wednesday Valentine’s Day sales on account of a stable euro compared with 2017.
The euro, which is the main currency used in payment for flowers, was appreciated from 110 in February last year to the current 123. Most of the Kenyan flowers are sold in the European market.
Kenya Horticultural Council chief executive officer Jane Ngigi said apart from the stronger currency, the industry has registered a good crop compared with last year. However, the council is still working on the statistics.
Ms Ngigi said growers are projected to earn 30 per cent of the Sh70 billion [693,000,000 USD] realised in 2017 from the flowers on Valentine’s Day alone.
Demand for flowers rises around the Valentine's season, both in the export and domestic markets. Producers expect that Kenyans will buy more flowers this year due to the fact that Valentine’s Day falls on a weekday.
Read more at Business Daily (Gerald Andae)
Publication date: 2/13/2018
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