According to Transparency Market Research (TMR), the global avocado market was valued at US$13.64 bn in 2018 and is predicted to attain an overall value of US$21.56 bn by 2026.
Avocado farmers and exporters in Kenya are smiling all the way to the bank after the exports jumped by 93 percent to 4.26 billion shillings in the first three months of 2021 compared to what was recorded the previous year.
According to the data compiled by the Horticulture Directorate shows, buoyed by improved demand in global markets despite the challenges brought about by the Covid-19 pandemic that is sweeping across the world, hitting hard on businesses.
Kenya is ranked eighth globally in avocado production. The country exported 26,481 tonnes of avocado fruit between January and March in 2021 compared to 15,101 tonnes in 2020.
The jump in avocado export volumes between January and March, according to the Directorate, came as Kenya lifted a ban on the shipment of the products to markets abroad to curb pre-mature harvests by cartels keen on profiteering from global demand.
The Directorate of Horticulture allowed the resumption of export of the popular Fuerte variety on February 15 followed by Hass on March 8 after close to a four-month ban. The demand is still high and the country is expected to benefit more in the next quarter.
The horticulture regulator had banned the export of the two popular avocado varieties last November to curb the harvesting of the immature crop that was also affecting the rating of the country globally in terms of avocado export.
The export of Avocado has over the years gained a lot of momentum in the country. Avocado export is currently a great source of revenue, and business to not only the farmers but also to the country.
Statistics published by the Daily Nation show that Kenya produces an average of 191,000 tonnes of avocado per year. It exports approximately 51,507 tonnes of the fruit, earning the country nearly 8 billion shillings.
According to Transparency Market Research (TMR), the global avocado market was valued at US$13.64 bn in 2018 and is predicted to attain an overall value of US$21.56 bn by 2026. The market is projected to show a healthy CAGR of 5.9% every year during the forecast period of 2018-2026.