(Ecofin Agency) - The Ethiopian Horticulture Development AGency revealed that horticulture exports generated $275.45 million at the end of the past fiscal year. Export revenues thus soar 10.7% compared to the previous year, indicated Head of Public Relations Office with the agency, Mekonen Hailu.

According to him, about 166,000 tons of fruits and vegetables were exported. He attributes the increase in foreign currency earnings to the consistent support from government to the horticulture industry, as well as attractive incentives. “The country is becoming a preferred investment hub for horticulture export owning to conducive investment climate and government incentives. Proof of this is that majority of the 130 companies investing in fields of horticulture in Ethiopia are owned by foreigners,” Mekonen Hailu said.

Regarding export destinations for Ethiopian horticulture products, Europe is the leader grabbing 80% of these exports, followed by Northern America, Middle East, Far East and some African nations far behind.

Aaron Akinocho