NAIROBI (Reuters) -Kenya’s earnings from tea exports rose to 138 billion shillings ($1.07 billion) in 2022, from 136 billion shillings previously, regulator Tea Board said, as the weakening of the local currency helped to blunt the impact of lower export volumes.
The East African nation is the leading exporter of black tea in the world and the crop is a key source of hard currency.
Exports volume for the year plunged by almost a fifth to 450 million kilograms, the tea board said in a report seen by Reuters on Monday.
Some markets, such as Egypt and Pakistan, have grappled with inadequate foreign exchange supplies, which curbed their ability to pay for shipments, it said.
Total production of tea fell by close to 3 million kg during the year to 535.04 million kg, the board said, due to “depressed and poorly distributed rainfall.”
($1 = 129.4000 Kenyan shillings)
(Reporting by Duncan Miriri; editing by Jason Neely and Louise Heavens)
