:. Food Industry News

Categories: Food Ingredients News

Kenya H1 Tea Earnings Jump on Better Prices

Source: Reuters
30/07/2009

Nairobi, July 30 - Kenya's tea export earnings rose 17 percent in the first half of this year, boosted by firmer prices even though dry weather cut production, the Tea Board of Kenya said on Thursday.

Daily News Alerts

The east African nation raked in 30.8 billion shillings ($401.4 million) in the first half of 2008, compared with 26.3 billion shillings in the same period last year.

First half production fell 11.5 percent to 139.2 million kilograms, from 157.3 million in H1 2008.

"The main reason is the weather pattern. We had a very prolonged drought, particularly in the first quarter," Sicily Kariuki, the board's managing director, told reporters.

The board said the average price of tea per kilogramme at the weekly auction in Mombasa rose to $2.42 in first half 2009 from $2.36 previously.

"Prices will remain firm for the immediate future," Kariuki said.

Kenya is the world's biggest exporter of black tea, and last year the leaf was the nation's second foreign currency earner.

The Tea Board reiterated its forecast that annual production in 2009 would be down 6 percent due to the dry weather, from last year's 345 million kilogrammes, though revenues would rise overall on the firmer prices to about 65 billion shillings.

Kenya sells tea to more than 30 countries. Leading importers are Egypt, Pakistan, Britain, Afghanistan and Sudan.

Officials have been courting new markets like Iran, Japan and the United States to cushion against any falls in demand from traditional importers.



GO   View more articles on this subject


More Alerts from 31/07/2009


Email This Article To A Colleague     Print A Copy Of This Page
 
 
 
 
FLEXNEWS - Business News for the Food Industry

About Us | Contact Us | Terms & Conditions | Privacy Policy
 
Daily News Alerts
Related Items
Kenya's Kakuzi Posts H1 Profit on Good Tea Prices
Kenya Tea Prices Hit Record High Before Ramadan
Burundi Tea Prices Rise in July as Drought Cuts Output...
Kenya Names New Tea Board to Drive Reforms
Kenya's Biggest Tea Producer to Generate Own Power
Kenya to Reform Tea Farming
Kenya Sees Iran Tea Deal Driving Up Earnings
Kenya Sees Higher 2009 Tea Earnings, Output Down
India FY09 Tea Exports Seen Up on Kenya Shortfall
Kenya 2008 Tea Output Falls 6 Percent, Earnings Up

More in Food Industry News
Procter & Gamble Repurchasing Shares, Quiet on...
US Shoppers Going Green Despite Struggling Economy
Wessanen Sells Liberty Richter to World Finer Foods
Cheesecake Factory Sticks to 2010 Forecast
Brenntag Changes 2.5 Bln Euro Loan to Allow IPO
European Commission Refers Greece to ECJ over Unjustified...
JM Smucker's Quarterly Net Income Increases 172%
Ferrero, Hershey Would Likely Break up Cadbury
Indonesia's Astra Agro Revises Up CPO Forecast
Cocoa Supplier Olam to Benefit from Consolidation Among...

Top Headlines
Procter & Gamble Repurchasing Shares, Quiet on...
US Shoppers Going Green Despite Struggling Economy
Wessanen Sells Liberty Richter to World Finer Foods
Cheesecake Factory Sticks to 2010 Forecast
European Commission Refers Greece to ECJ over Unjustified...
JM Smucker's Quarterly Net Income Increases 172%
Cocoa Supplier Olam to Benefit from Consolidation Among...
Avebe and National Starch Food Innovation to Expand...
Auchan Backs Hypermarkets as Rivals Rethink
Ferrero Could Eye Cadbury Gum, Candy Unit
Dole Food Posts Wider Q3 Loss
Fonterra Sells Stake in UK Joint Venture to Arla
Imperial Sugar Company Closes Three-Way Joint Venture...
PepsiCo to Invest $100 Million in Egypt in 2010
Ex-Parmalat Auditors Settle US Investor Lawsuit
Tesco in Broadband Push as Reaches Beyond Groceries
India Sugar Protest Forces Parliament to Shut
Kerry Group Keeps Full Year Earnings Growth Forecast
Nestle Professional to Acquire Vitality Foodservice
Pinnacle Foods Acquires Birds Eye Foods for USD 1.3...
DSM Makes Great Strides in Production Processes for...
Russian Grocer X5 Plans Higher 2010 Capex
Brazil: Laep in Talks to Sell Dairy Plant to Nestle
SunOpta Announces Opening of Natural and Organic Sesame...
Products Comprising, and Uses of, Decarboxylated Phenolic...
Process for the Preparation of Packaged Heat-Preserved...


 


FLEXNEWS 2009 - All rights reserved
ISSN 1950-6228