Kenya tea export earnings up last year
Thursday, 28 January 2010
NAIROBI, Jan 27 (Commodity Online): Africa's leading tea producer, Kenya earned 69 billion shilling through tea exports last year from 62 billion shilling in 2008 despite shrinking volumes.
According to Tea Board of Kenya, the reduction in volumes caused by prolonged drought was made up for by a favourable exchange rate.
During the period, the shilling weakened against the US dollar, dropping from Sh69 in 2008 to an average of Sh76.
Average tea prices rose to $2.72 a kilo from $2.33. Prices at the Mombasa tea auction were also the highest recorded in close to two-and-half decades, said Tea Board of Kenya in a statement.
Kenya's tea export this year is expected to increase to about 370 million kilos from 342 million kilos in 2009, it said.
World tea production for 2010 is expected to reach 3.9 billion kilos, or five per cent higher than the 3.72 billion kilos projected for 2009.
During the first quarter of the year, North India, which accounts for over 70 per cent of India's tea production, and Bangladesh would experience less crop compared to the last three months of 2009 due to the winter season.
Afghanistan and Sudan were the only markets or export destinations that recorded growth, at 29 per cent and 10 per cent respectively.
According to Tea Board of Kenya, the reduction in volumes caused by prolonged drought was made up for by a favourable exchange rate.
During the period, the shilling weakened against the US dollar, dropping from Sh69 in 2008 to an average of Sh76.
Average tea prices rose to $2.72 a kilo from $2.33. Prices at the Mombasa tea auction were also the highest recorded in close to two-and-half decades, said Tea Board of Kenya in a statement.
Kenya's tea export this year is expected to increase to about 370 million kilos from 342 million kilos in 2009, it said.
World tea production for 2010 is expected to reach 3.9 billion kilos, or five per cent higher than the 3.72 billion kilos projected for 2009.
During the first quarter of the year, North India, which accounts for over 70 per cent of India's tea production, and Bangladesh would experience less crop compared to the last three months of 2009 due to the winter season.
Afghanistan and Sudan were the only markets or export destinations that recorded growth, at 29 per cent and 10 per cent respectively.