Sharp Daily
No Result
View All Result
Thursday, October 23, 2025
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
Sharp Daily
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
No Result
View All Result
Sharp Daily
No Result
View All Result
Home News

Tea growers in Rift Valley face economic strain as tea prices plummet

Kevin Cheruiyot by Kevin Cheruiyot
December 6, 2023
in News
Reading Time: 2 mins read

Tea growers in Kenya’s Rift Valley region are contending with a substantial decline in earnings, driven by a sharp drop in tea prices at the Mombasa auction. Several factories have informed growers of significant reductions in payment for green tea leaves, some plummeting to as low as KES 19.0 per kilogram, effective December 1, 2023.

In correspondence to its farmers, Chemusian Tea Estate Ltd explained that the adjustment to KES 19.0 per kilogram was in response to persistently poor market conditions. Likewise, Kuresoi Tea Factory reduced its green leaf price by 10.7% to KES 25.0 from the previous KES 28, while Kisyet Tea Limited decreased payouts by 11.1% to KES 24.0 from KES 27.0, both citing the decline in tea prices at the auction. Greenfields Tea Factory Limited also cut its payout to KES 25 gross, including transport costs, attributing the decision to the impact of depressed international tea markets.

These factories emphasized their commitment to monitoring developments in the tea market and adjusting payouts accordingly. The average tea price per kilogram at the Mombasa auction dropped by 11.1% to USD 2.4 (KES 367.0), a considerable drop from the peak of USD 2.7 (KES 419) in February 2022.

Despite the weakening of the Kenya shilling somewhat mitigating the decline, global factors continue to exert pressure on local tea prices. According to a World Bank report, the Commodity Markets Outlook forecasts a further 2.0% decline in tea prices globally in the coming year.

RELATEDPOSTS

Mombasa finance CEC remanded for failing to pay KES 67 million debt

August 23, 2024

Mombasa governor’s radio station raided by KRA over tax row

May 29, 2024

This downturn is attributed to robust leaf supplies from major producers like India and East African countries, including Kenya, the largest tea supplier in East Africa. Additionally, weak demand from key importers, such as Iran, has contributed to the challenging market conditions.

The situation poses a looming economic challenge for Kenyan tea producers as they grapple with the impact of both local and global factors on their livelihoods. With tea prices continuing to fluctuate, the resilience of the tea industry in the Rift Valley will be tested, necessitating innovative strategies to navigate the tough times ahead.

Previous Post

New bill seeks to have interior designers without certification barred

Next Post

Trends and strategies for success in the changing real estate landscape

Kevin Cheruiyot

Kevin Cheruiyot

Related Posts

News

Start Q4 strong with the Cytonn Money Market Fund

October 9, 2025
News

Kenya Q2’ 2025 GDP growth accelerates to 5.0%

October 3, 2025
News

Argentina’s crisis and Kenya’s lessons on political economy and market confidence

September 25, 2025
News

Kenya’s financial system remains stable but faces rising risks

September 25, 2025
News

Where do Kenyan stock returns come from? A napkin framework

September 19, 2025
News

September snapshot: CMMF yields 13.12% as month unfolds

September 5, 2025

LATEST STORIES

Coca-Cola HBC to acquire 75.0% of CCBA for USD 3.4bn by 2026

October 23, 2025

BDCs & Private Credit: Income, liquidity and risks (2025)

October 23, 2025

Kenya’s credit rating outlook 2025: Signs of improvement amid Debt challenges

October 23, 2025

Kenya 2025: Diaspora remittances drive growth

October 23, 2025

Compliance training is emerging as the cheapest form of risk control

October 22, 2025

CBK boosts gold reserves by 40.8% to strengthen Kenya’s financial stability

October 22, 2025

Kenya Re to gain bigger market share under new treasury regulations

October 22, 2025

Understanding stablecoins: The backbone of digital finance

October 22, 2025
  • About Us
  • Meet The Team
  • Careers
  • Privacy Policy
  • Terms and Conditions
Email us: editor@thesharpdaily.com

Sharp Daily © 2024

No Result
View All Result
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team

Sharp Daily © 2024