Kenya's tea earnings up in Q1-Xinhua

Kenya's tea earnings up in Q1

Source: Xinhua| 2023-06-07 01:24:45|Editor: huaxia

NAIROBI, June 6 (Xinhua) -- Kenya's earnings from tea exports rose 9.8 percent in the first quarter of 2023 boosted by an increase in prices in the global markets, the Tea Board of Kenya (TBK) said Tuesday.

The agency noted in a statement released in Nairobi, the capital of Kenya, that the earnings defied challenges that included a shortage of forex reserves, inflationary pressure and low consumer purchasing power in destination markets.

Kenya earned 43.2 billion shillings (about 311 million U.S. dollars) from tea in quarter one, having shipped 139,716 metric tons (MT) of the produce. This was an increase from 284 million dollars earned from 135,721 MT exported in a similar period in 2022, according to the TBK.

During the quarter, the TBK said Kenyan tea, especially from smallholder farmers, fetched higher prices in the global market.

"The tea was sold at 2.7 dollars per kilo for the main grades as compared to 2.65 dollars in a similar period in 2022," the agency said.

The TBK noted, however, that local tea production during the quarter fell to 136,000 MT due to adverse weather conditions in growing regions.

Tea is one of Kenya's main foreign exchange earners, alongside horticulture, coffee and tourism. The country's main tea markets include Russia, Pakistan, Egypt, Sudan, Britain and the United Arab Emirates.