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Kenya's tea exports on decline
The ongoing armed conflict in Sudan, as well as the Russia -Ukraine conflict, have affected Kenya's tea exports, stifling half-year exports amid low global prices.
Kenya exported 191,000 tons of tea worth 62.1 billion Kenyan shillings (about 432 million U.S. dollars) in the period ending June, a major decline from 243,000 tons valued at around 614 million dollars in a similar period in 2022. The 29 percent decline in the value of exports is due to lesser demand for Kenya's tea in the global market.
Despite the decline in volumes exported, tea production increased significantly in Kenya to stand at 273,640 tons in the six months, a rise from 271,300 tons in a similar period in 2022, due to favorable weather.
Source: Xinhua (Extracts), Courtesy: Tea Exporters’ Association Sri Lanka
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Forbes & Walker was set up in 1881 as a partnership between James Forbes and Chapmen Walker. Although there is no actual record of the date on which it was established the very first cash book, still in the possession of the Finance Director, indicates the brokerages were earned from 1st August 1881. In Sir Thomas Villiers' book “Mercantile Lore” the date of establishment of Forbes & Walker has been put down Read More...