Commodities
Wednesday, September 27, 2017 23:02
By GERALD ANDAE
Tea exports to Pakistan, Kenya’s largest purchaser of the commodity, fell 38 per cent in August in comparison with the earlier month as a result of jitters about final month’s Common Election.
Knowledge by the Tea Directorate present that Pakistani merchants solely purchased eight.07 million kg of Kenyan tea in August, down from 13.1 million kg in July after they amassed big shares as a result of uncertainty over the polls.
“Pakistan did lots of buy in July as a result of nervousness on elections. They’re but to clear shares,” Samuel Ogola, head of the Tea Directorate mentioned.
The low tea purchases are more likely to drag into subsequent month when Kenya is scheduled to carry repeat presidential elections on October 26, the official mentioned.
Mr Ogola mentioned that the nation would possibly nonetheless witness cautious shopping for on the public sale forward of the election. The whole export quantity for August recorded a decline of 24 per cent to register 28 million kg in contrast with 36.9 million kg registered in a corresponding interval final yr. In the course of the month, Kenya tea was shipped to 38 export locations in contrast with 39 for a similar interval in 2016.
Ten export locations accounted for 88 per cent of the amount. The UK, Nigeria, Poland and India markets recorded increased tea imports from Kenya in the course of the month.
Kenya has been counting on the highest markets for the sale of most of its tea however the directorate is now scouting for brand new markets given that almost all of those conventional consumers are witnessing political instability.
The directorate has been banking on rising markets and a rise in native consumption to enhance the sale of the beverage and enhance revenues for farmers.
Amongst the rising markets that recorded considerably increased tea imports from Kenya in August included Indonesia, Japan, Ukraine, Belgium, Sri-Lanka, China and Hong Kong.
Native tea consumption for the month stood at three.08 million Kg towards 2.40 million Kg for the corresponding interval of 2016 whereas cumulative tea consumption for the eight months interval as much as August 2017 stood at 24.33 million Kg in contrast with 18.72 million Kg for a similar interval final yr.
