Kenya's H1 tea export revenue surges 18% to Sh102Bn
Kenya's H1 tea export revenue surges 18% to Sh102Bn
Kenya's earnings from tea exports went up by 18 percent to Kes102.4 billion in the six months to June 2024, attributable to increased volumes sold in key markets, official statistics show.
Data from the Kenya National Bureau of Statistics (KNBS) shows that Kenya exported 320,563 metric tonnes of the green leaf compared to 270.287 metric tonnes shipped in the half ending June 2023.
In the period under review, favourable weather conditions in tea-producing areas saw March record the highest shipments at 59,599 metric tonnes while June posted the least volume exported at 42,894 metric tonnes.
According to KNBS data, the average earnings per month during the period was US$132 million. However, tea production fell from 54,500 metric tonnes in May 2024 to 46,200 metric tonnes in June 2024. At the same time, the average auction price for Kenya tea was lower at $2.14 per kilo in June compared to $2.18 per kilo during the previous month.
The average auction price for Kenya tea for the six-month period of the year stood at $2.20 per Kg, KNBS update notes.
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At the start of the second half, KNBS data shows that the quantity of tea exported shot up to 54,300 metric tonnes in July from 42,900 metric tonnes in June. Consequently, the sector recorded an increase in the value of tea sold to Kes15.5 billion in July compared to Kes11.8 billion realised a month earlier.
According to the Tea Board of Kenya, the country exported green leaf to 92 export markets in 2023 compared to 82 in the previous year. Apart from Pakistan, other key export destinations for Kenyan tea were Egypt, the UK, UAE, Yemen, Russia, Iran, Sudan, Afghanistan, and Poland.
"During the beginning of the year 2023, the Government through the Cabinet Secretary for Agriculture held a bi-lateral engagement with Pakistan Government which forestalled a similar challenge of forex that had characterized Pakistan following which forex allocation for importation of tea as an essential food item was prioritized," the board states in part.
Overall, in 2023, the total export volume increased by 16 percent (72.58 million Kgs) from 450.33 million Kgs recorded in 2022 to 522.92 million Kgs.
