Cash crops register growth in first quota of 2020-21-report
By Tom Brian Angurini
A new report by ABi-Trust & Finance, a non-government organization that supports farmers has shown that cash crops continued to grow robustly at 6.6% in the first half of financial year 2020/21.
According to the report, the value of coffee exports increased by over 7.5%, despite the fall in the annual average price of Robusta coffee from USD 1.6 per kg in 2019 to USD 1.5 per kg in 2020.
Releasing the report in Kampala, Josephine Mukubuya, ABi Trust & Finance Chief Executive Officer said poor climatic conditions over the first half of financial year 2020/21 no doubt affected production of both food and cash crops.
She adds though, that the latter was less affected given the higher resilience of perennial crops like coffee which form the bulk of exports.
She also notes that the pandemic has increased the urgency to enhance agricultural productivity, given the opportunity presented by agriculture to enhance national revenue streams.
According to UBOS, agriculture contributed 23.2% to national GDP in 2020, it also contributed to food security and livelihoods as an alternative to the formal jobs and small businesses that were closed in the year as a result of the crises.
Latest news
