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Kenya tea exports up by 20% in 2024
Kenya's tea export volumes surged 20.8 percent in the first ten months of 2024, boosted by increaseddemand in destination markets. Export volumes stood at 500.8 million kg, an increase from 414.5 million kg recorded in thesame period of 2023.
The East African nation earned 155 billion Kenyan shillings (about 1.19 billion U.S. dollars) from exportsduring the first 10 months, a rise from 1.09 billion dollars in a similar period in 2023.
With the country earning an average of 199 million dollars per month from tea, earnings in 2024 areexpected to surpass the 1.39 billion dollars earned in 2023.
Meanwhile, tea production also surged 7 percent in the first 10months of 2024, boosted by favorable weather conditions. Pakistan, Egypt, the United Arab Emirates, Russia and Sudanremained the main markets that shipped more tea from Kenyaduring the period.
Kenya is expanding its market, especially in Asia, with thegovernment recently opening a tea trade center in Fujian Provinceof China to facilitate distribution in the country.
Source: Xinhua/Africa Business News (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...