RWANDA – Rwanda earned a total of US$158m from the exportation of agricultural products in the second quarter of the 2021/2022 fiscal year to end December.
The rise in revenue represents an increase of 39% compared to the same period in 2020/2021, where revenues generated were US$114m.
According to the report by National Agricultural Export Development Board (NAEB), export revenues from traditional commodities such as coffee, tea and pyrethrum increased by 36% to US$63 million from US$46 million in the previous corresponding period.
While, non-traditional commodities export revenues increased by 41% to US$ 94m from US$ 67m in 2020/2021 fiscal year.
The East African country, bagged US$26m from export of tea, reflecting a 25.5% rise from US$18.85m generated previously.
The increase of earnings is a result of 6.9% increment of tea export volumes to 7,634 MT from 7,140.9 MT registered in the same quarter of 2020/2021.
The average price at international market also increased to USD 3.10/Kg from USD 2.65 in the same period of 2020/2021 fiscal year.
Shifting focus to the country’s other green gold, Coffee, export revenues increased to US$ 38.42m from US$26.11m, an increase of 47%.
The rise in earnings is attributed to the good price at the international market, where the average price rose to USD 4.9/Kg from USD 3.7/Kg in 2020/2021 fiscal year’s second quarter.
The increase is also justified by 15.5% increment of coffee export volumes, comparing the two quarters of 2020/2021 and 2021/2022 fiscal years.
As part of its non-traditional commodities export, vegetable export revenues increased by 3.3%, fruits by 34.6% and flowers by 48.8%.
According to the agricultural board, the overall bullish performance is attributed to the resumption of operations in the country and a continued recovery of external demand.
NAEB’s management will continue to monitor the situation closely and commit to continuously work with and support all value-chain actors in Rwandan agri-export sector to ensure meeting the quality standards required by international markets and making the sector even profitable.
“Management will continue to monitor the situation closely and commit to continuously work with and support all value-chain actors in Rwandan agri-export sector to ensure meeting the quality standards required by international markets and making the sector even profitable,” stated NAEB.
NAEB expressed optimism that the existing strong partnership between the Government and all stakeholders is a signal that the agricultural export growth is achievable, an opportunity for new ventures.
During the period under review, Rwanda was relishing from the lucrative deal that was entered with the United Arab Emirates (UAE) based retail firm, MAF Carrefour, to supply the hypermarket with fresh produce including fruits and vegetables over the next one year.