Kenya Sees Significant Rise in Tea Export Volumes and Revenue in 2024
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Nairobi, Jan 9 (NationPress) Kenya's tea export volumes have increased by 20.8 per cent during the first ten months of 2024, fueled by rising demand in destination markets, as reported by the Tea Board of Kenya (TBK).
The TBK announced on Wednesday that the export volumes reached 500.8 million kg, a notable rise from 414.5 million kg documented in the corresponding period of 2023.
The East African country generated 155 billion Kenyan shillings (approximately $1.19 billion) from exports in the first ten months, up from $1.09 billion in the same timeframe of 2023, as revealed in a report released in Nairobi.
According to the TBK, export earnings increased due to a combination of higher export volumes and a stable exchange rate.
During this period, the Kenyan shilling averaged 129 to the US dollar, according to reports from Xinhua news agency.
With an average monthly revenue of $199 million from tea, earnings for 2024 are anticipated to exceed the $1.39 billion earned in 2023, as per the TBK.
Additionally, tea production saw a 7 per cent increase in the first ten months of 2024, thanks to favorable weather conditions. Key markets such as Pakistan, Egypt, the United Arab Emirates, Russia, and Sudan significantly increased their tea imports from Kenya during this timeframe.
Kenya is actively expanding its market presence, particularly in Asia, with the recent establishment of a tea trade center in Fujian Province, China, aimed at enhancing distribution in that region.
Moreover, Kenya's overall exports during the third quarter of 2024 rose by 5.5 per cent to 284.4 billion Kenyan shillings (approximately $2.19 billion) compared to the same quarter in 2023, according to the national statistics bureau.
Data from the Kenya National Bureau of Statistics (KNBS) indicated that Africa accounted for the largest portion of total export earnings at 39.6 per cent, despite a 5.2 per cent decline compared to the same period in 2023.
The KNBS noted that this decline was partly due to reduced exports to Egypt (32.6 per cent), Tanzania (10.4 per cent), Burundi (36.9 per cent), and South Sudan (27.5 per cent).
However, exports to Asia surged to 79.3 billion Kenyan shillings (around $612.8 million), mainly driven by increased re-exports of kerosene-type jet fuel to the United Arab Emirates and exports of pigeon peas to India.
While earnings from exports to the European Union slightly dipped to 38 billion Kenyan shillings (roughly $293.7 million) from 38.8 billion Kenyan shillings (about $299.8 million) in 2023, partially due to decreased domestic exports of cut flowers, revenue from exports to America saw a significant rise of 46.8 per cent to 26.2 billion Kenyan shillings (approximately $202.5 million) compared to 2023, largely driven by increased domestic apparel and clothing accessory exports, along with re-exports of kerosene-type jet fuel to the United States.
