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Kenya’s Q1 earnings from sisal rise as global prices surge

NAIROBI, (The Southern African Times) – Kenya’s sisal exports surged in the first quarter of 2021 to hit 1.2 billion shillings (11.1 million U.S. dollars) amid rise in global prices, the Fibre Crops Directorate said Tuesday.

Kenya exported 7,687.6 metric tonnes (MT) of sisal during the period, the highest export volumes compared to previous periods, said the directorate.

In January, 2,745 MT of sisal were exported, 2,194 MT in February while March recorded 2,747 MT.

“In comparison to the previous year during the same period, prices have increased in the current period by an average of 6 percent. This significant increase in price could be attributed to the fact that in the previous period, jitters caused in the market due to the COVID-19 pandemic have since normalized in most destinations,” said the agency in a statement released in Nairobi.

Thus, most of the export destinations have learnt how to cope with the pandemic, hence the vibrancy of the market indicated by the rising prices, it added.

During the period under review, sisal fibre was exported to 23 destinations with Nigeria being the leading with 2,503.50 MT, representing a 33 percent market share.

Other top destinations with their market share were Ghana (9 percent), China (9 percent), Spain (9 percent) and Morocco (8 percent) respectively.

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