• About Hisa Technologies
  • Advertise
  • Careers
  • Contact Us
  • Estate Cloud
Sunday, January 17, 2021
  • Login
  • Register
No Result
View All Result
NEWSLETTER
Kenyan Wallstreet
  • Home
  • News
    • Kenyan News
    • African News
    • Global News
  • Business
    • Agriculture
    • Banking
    • Aviation
    • Energy
    • Manufacturing
    • Markets
    • Personal Finance
    • Technology
    • Startups
  • Podcast
  • Videos
  • Events
  • Blockchain & Digital Currencies
  • Home
  • News
    • Kenyan News
    • African News
    • Global News
  • Business
    • Agriculture
    • Banking
    • Aviation
    • Energy
    • Manufacturing
    • Markets
    • Personal Finance
    • Technology
    • Startups
  • Podcast
  • Videos
  • Events
  • Blockchain & Digital Currencies
No Result
View All Result
Kenyan Wallstreet
No Result
View All Result

KTDA tea production rises amid price decline

Kenyan WallStreetbyKenyan WallStreet
April 30, 2019
in Kenyan News
Reading Time: 2 min
KTDA tea production rises amid price decline

Cumulative green leaf production for smallholder tea farmers under Kenya Tea Development Agency (KTDA) rose to 868.9 million kilos in the first nine months of the 2018/19 financial year (July 2018 to March 2019), amid a19.5% drop in tea prices over the same period.

This compares to 824.8 million kilos of green leaf delivered to KTDA-managed factories in the first nine months of the previous year FY (July 2017 to March 2018). However, the month of March 2019 recorded a decline of 25% compared to a similar month in 2018.

“Despite the drought experienced in the last several months, high production of tea towards the end of last year continued to dampen the prices. The drought has recently led to reduced production and we anticipate this reduction could see prices improve as less tea volumes are offered for sale” KTDA Group CEO, Lerionka Tiampati said.

The average price of KTDA teas in the first nine months of 2018/19 declined to USD 2.62 per kg from USD 3.25 for the corresponding period of 2017/18.Turbulence in the international markets such as economic sanctions imposed on Iran by the USA and high inflation rates in Egypt also negatively impacted the tea market.

Compared to last year, the exchange rate dropped 1.6% as the Kenya Shilling strengthened against the dollar. Tea is traded in the US Dollar, which is then converted to KES.

Other tea producing countries such as India also reported higher tea production in 2018 adding to global tea stocks which pushed prices down.

“Despite the reduction in production due to drought, it is not anticipated that prices will improve significantly between now and the close of the financial year in June 2019. Farmers should therefore expect to receive lower total earnings for their produce this year,” Tiampati added.

In October 2018, KTDA announced record income of Kshs85.74 million from the sale of tea supplied by smallholder tea farmers. A total of Kshs62.35 billion (representing 74% of income) was paid out to farmers as monthly and second payments.

Related;

Drought Affects Tea Production in Kenya



Previous Post

Equity Bank to acquire Atlas Mara’s operations in 4 African Countries

Next Post

Home Afrika Delays Publishing of 2018 Financial Results

Related Posts

Blow as KQ Workers Face New 30% Pay Cuts

Blow as KQ Workers Face New 30% Pay Cuts

January 16, 2021
Sasini Plc Emerges from Losses to Post Net Profit of KSh 12.6 Million

Sasini Plc Emerges from Losses to Post Net Profit of KSh 12.6 Million

January 16, 2021

NSE turnover rises 67% to KSh 773.02 Million

January 16, 2021

Weekly Tea Auction Records an Increase in Prices

January 16, 2021

CBK Aims to Increase Remittances into Kenya with First-ever Diaspora Remittances Survey

January 15, 2021

IMF Nears Financial Support Agreement with Kenya

January 16, 2021

Kenya’s Current Account Deficit Narrows to 4.7%

January 15, 2021

Gituku Kirika Joins IPSL as New Chief Executive.

January 15, 2021
Load More
Next Post
Home Afrika Delays Publishing of 2018 Financial Results

Home Afrika Delays Publishing of 2018 Financial Results

Follow Us

  • 7.1k Fans
  • 112.3k Followers
  • 2.2k Subscribers
  • 453 Followers

WhatsApp

Subscribe

Telegram  

Subscribe

Podcasts

Upcoming Events

There are no upcoming events.

View Calendar
Add
  • Add to Timely Calendar
  • Add to Google
  • Add to Outlook
  • Add to Apple Calendar
  • Add to other calendar
  • Export to XML

Featured

Amari Book Club Recommendations

Absolute Must-Reads for Banking and Finance Professionals

January 16, 2021
Leila Fourie, JSE Group CEO

‘’Markets Recovery Don’t Imply Economic Recovery,’’ Leila Fourie, CEO Johannesburg Stock Exchange

December 31, 2020
Angaza Awards

Call For Nominations – Angaza Awards: Women to Watch in Banking & Finance

December 8, 2020
Multichoice’s Technological Innovations for 2020

Multichoice’s Technological Innovations for 2020

November 12, 2020
Zoomoo Partners with MultiChoice to expand to Africa

MultiChoice and Zoomoo Partner to Expand Children Content in Africa

November 12, 2020

About Company

We are a leading integrated digital content platform providing in-depth business and financial news across Sub-Saharan Africa & the globe. Kenyanwallstreet.com is a property of Hisa Technologies Ltd, a financial media & software company.

Contact Us

Kenyan Wall Street
Email: [email protected]
Website: www.kenyanwallstreet.com

Disclaimer

The information contained in this website is for general information purposes only.
Read more..

  • About Hisa Technologies
  • Advertise
  • Careers
  • Contact Us
  • Estate Cloud

Copyright 2020. Kenyan Wallstreet· All Rights Reserved.

No Result
View All Result
  • Home
  • News
    • Kenyan News
    • African News
    • Global News
  • Business
    • Agriculture
    • Aviation
    • Banking
    • Energy
    • Global Markets
    • Healthcare
    • Infrastructure
    • Insurance
    • Investment
    • Manufacturing
    • Markets
    • Public Policy
    • Real Estate
    • Startups
    • Technology
  • Podcast
  • Videos
  • Events

Copyright 2020. Kenyan Wallstreet· All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?