TEA NEWS

There was good general demand Current and Future Fresh Aucon Offerings for the 228,420 packages (15.36m/ kgs) available in the market; 36.60% were unsold. Leaf Grades (M2) Offerings: 117,400 packages (7.70m/kgs) – 32.37% unsold.

Good and improved demand for the Current and Future Fresh Auction Offerings 242,022 packages (16.27m/kgs) on offer with 39.01% remaining unsold.

Fair demand for the 236,840 pack- Current and Future Fresh Auction Offerings ages (15.92m/kgs) in the market at irregular levels following quality; 35.52% remained unsold.

VERY GOOD DEMAND ON PLANTATION TYPES WITH KTDAS FACING HEAVY WITHDRAWALS BP1 : East KTDA dearer 3/5 cts, West KTDA firm to dearer 3/8 cts, Nandi easier 2/8 cts, Limuru dearer 10/40 cts, Kericho dearer 4/26 cts, Uganda dearer 2/10 cts.

Kenyan tea earnings under threat as Egypt, Pakistan run out of forex. Kenya is staring at a possible loss of foreign exchange earnings from tea as Egypt and Pakistan grapple with a serious scarcity of foreign currency in those markets that have seen shipping lines threaten to withdraw services, a move that will have serious ramifications on one of Nairobi's top exports.Foreign ships, according to the Economic Times of India, want to pull out of Pakistan due to non-payment of freight charges as the banks fail to remit the money to shipping lines due to a dollar shortage.

Tea Market Report Sale 05-2023 BP1 : East KTDA up to 12 easier observing reserve prices. West KTDA firm at reserve priceswith selected types 8/12 cts dearer and reprints neglected. Nandi 11/34 cts dearer.Limuru firm to 10 cts dearer. Kericho up to 10 cts easier with selected better made typesfirm to 16 cts dearer. Uganda 8 cts easier to 10 cts dearer following make.

Production in August 2022 remained 23% lower YoY, indicating a continued weakness. Orthodox tea accounts for around 90% of the country’s tea production, most of which is exported. This results in the country accounting for around half of the global orthodox tea trade.

MENA region accounts for over half of country’s exports of beverage UAE is 3rd-largest export market overall, main hub for Ceylon tea

Tea Market Report Sale 04-2023. FAIR DEMAND AT IRREGULAR RATES AND CLOSELY FOLLOWING QUALITY

Agriculture is one of the sectors Kenya is most competitive in globally. It is a key driver of our economy with about 60 per cent of Kenyans deriving their livelihoods from agricultural-based economies.

Tea from western Kenya continues to perform dismally at the auction as the minimum price continues to take a toll on the beverage, which recorded an absorption rate of 32 percent this week.

FAIR DEMAND AT IRREGULAR RATES BP1 : Selected best East KTDA dearer 23/48 cts others easier 8/27 cts, West KTDA mostly easier 3/12 cts with some heavily discounted by 40 cts, Nandi easier 16/40 cts, Limuru easier 10/26 cts, Kericho easier 8/16 cts, Uganda easier 13/22 cts.