Africa We Want

AGRIBUSINESS: Rwanda’s Agricultural Exports Increase By 44%

Rwanda’s agricultural exports increased by 44 per cent to over $640.9 million (over Rwf663 billion) in 2021-2022, from $444.8 million (over Rwf460 billion) in the previous financial year. By Anita Anyango

The report which was released by the National Agricultural Export Development Board (NAEB) reveals that the country received over $196 million (or Rwf201 billion) from its agricultural exports. This additional export revenue is more than Rwf160 billion which was allocated to funding agriculture sector projects in the current fiscal year.

The increase in terms of revenues is attributed to the economic recovery measures and movement of goods and people in 2021-2022 compared to 2020-2021, where cross borders movements were restricted by the coronavirus pandemic preventive measures.


« We are pleased that, in addition to other opportunities, the agro-export sector contributes significantly to job retention and creation. We will build on this year’s strong performance by looking for new and innovative ways to keep Rwanda’s agribusiness environment adaptable and competitive while drawing in the interest of international markets, » said NAEB’s Chief Executive Officer, Claude Bizimana, while commenting on the annual agricultural export performance.

In the fiscal year 2021-2022, coffee export volumes amounted to over 15 million kilogrammes (kgs), and generated over $75.5 million. The increase of about 23% in coffee revenues from July 2021 to June 2022 in comparison with the same period of 2021, is attributed to good prices registered in this period.In the period under review, the average price was $4.58/kg against $3.62/kg of 2021.


Export of made (processed) tea in July 2021-June 2022 amounted to over 35 million kilogrammes, which fetched$103.4 million. In the same period of the previous fiscal year, more than 34 million kilogrammes of tea were sold at the international market for $90 million.

The increase of 15% in tea revenues comes from two factors, namely the high volume of tea sold in 2021-2022 (2.94 per cent increment), and the good price registered in 2021- 2022 in comparison with the previous year.

In the 2020-2021 period, a kilogramme of tea was $2.92, higher than $2.62% in the previous period. Meanwhile, cereal export revenues rose by 44% to $133 million in the financial year which concluded on June 30 this year, compared to $92 million in the previous one. Export quantities of the same commodity went up to more than 254 million kilogrammes from 194 million kilogrammes.

It is worth mentioning that Rwanda seeks to expand its agricultural export base through commodity diversification as it seeks to able to generate $1 billion (over Rwf1 trillion) in annual foreign agricultural revenues by 2024.

Author: MANZI
9

0 Comments

Leave a comment

RwandaPodium © All Rights Reserved. Powered by thesublime.rw