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Market News

Company plans Sh50m avocado farm

avocado export
Kenya is Africa’s largest avocado exporter. FILE PHOTO | NMG 

A Mombasa-based firm plans to spend Sh50 million on a horticulture farm in Naivasha with eyes on avocado export market.

Regulatory filings show Kanavo Limited intends to initially develop a 350-acre section of its 556-acre land within Ndabibi in Naivasha.

“The proponent proposes to establish a farm of avocadoes, onions, cabbages and tomatoes for the purposes of local and export market and to be in the business of horticultural industry,” said the National Environment Management Authority (Nema) in its assessment.

“It will improve the value of land within the area, create an economic activity for hundreds of people for years to come as well as revenue for the government.”

Kenya is Africa’s largest avocado exporter with its foreign market growing to include China following easing of tariffs for direct avocado exports.

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The Kenya National Bureau of Statistics says the country earned Sh6.5 billion and Sh5.2 billion in 2016 and 2015 from avocado exports respectively.

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