Exports from Kenya, the world's largest supplier of black tea, have plummeted as drought hits.
(European News Agency)
[Financial Channel/Comprehensive Report] East Africa has been hit by the worst drought in 40 years, resulting in a decline in the production of Kenyan black tea, buyers shrinking their hands, and exports plummeting. In the first three quarters of this year, the sales volume of Kenyan black tea plummeted by 22%, leaving only 333,400 metric tons , which is the first decline in five years.
Bloomberg reported that Kenya, the world's largest supplier of black tea, has benefited in recent years from lower production from rivals such as Sri Lanka, which pushed up black tea prices.
However, due to the drought in East Africa, the production of Kenyan black tea has been reduced.
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According to data from the Kenya Tea Board, black tea production fell by 2% in the first three quarters of this year, leading to a 22% drop in overseas sales in the first nine months, leaving only 333,400 metric tons. This year may face the first decline in exports since 2017.
The report pointed out that from January to September this year, Kenyan tea was mainly sold to Pakistan, Egypt, the United Kingdom and the United Arab Emirates, and these markets accounted for as much as 69% of exports.
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