Kenya’s Largest Tea Grower’s Output Declines 14% From Year Ago
- Average auction prices drop 8% in the 12 months through June
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KTDA-managed factories embark on production of orthodox teas - Kenya Tea Development Agency Ltd. said smallholder farmers delivered 1.25 billion kilograms (2.76 billion pounds) of green leaf to factories in the 12 months through June compared with a record 1.45 billion kilograms the previous year.
- Average prices of the commodity at the Mombasa tea auction dropped 8% to $2.18 per kilogram during the period, the agency said Sunday in an email.
“The relatively favorable exchange rate of the Kenya shilling to the U.S. dollar has, however, helped shore up earnings from the sale of tea, which is generally dollar-denominated,” according to the statement.
The East African nation is the world’s biggest exporter of black tea, which is one of its main sources of foreign exchange. Its weekly tea auction takes leaves from neighboring countries.