Jan. 28 (Bloomberg) -- Kenya, the world’s largest exporter of black tea, expects earnings from shipments to increase 3.6 percent this year as production increases.
Revenue from tea exports may increase to 116 billion billion shillings ($1.3 billion) from 112 billion shillings in 2012, Tea Board of Kenya Managing Director Sicily Kariuki told reporters today in the capital, Nairobi. Output may climb to 373 million kilograms (820.6 million pounds) from 369.5 million kilograms on improved weather, she said.
“Kenya experienced good and well distributed rainfall coupled with moderate temperatures towards the last quarter of 2012,” Kariuki said. “Good weather conditions continued into the first half of January 2013.”
Tea is the biggest generator of foreign exchange in Kenya, East Africa’s biggest economy and host to one of the world’s biggest auctions of the leaves in the port city of Mombasa.
The average tea price at weekly sales in Mombasa advanced to $3.18 per kilogram in 2012 from $2.90 a year earlier, Kariuki said. The prices are expected to average $3.20 this year, she said.
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