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Kenya: Weak euro eats into horticulture earnings

Horticulture exporters earned Sh1 billion less in the first quarter compared to a similar period in 2014, partly as a result of a weaker euro.

Kenya National Bureau of Statistics (KNBS) data shows that earnings from flower, vegetable and fresh fruit exports for quarter one 2015 stood at Sh24.79 billion compared to Sh25.86 billion last year.

Kenya Flower Council chief executive Jane Ngigi said exporters are not only facing reduced earnings due to the weaker euro compared to last year, but also face higher costs due to the stronger dollar which they use to pay for 70 per cent of their costs.

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