Kenya's tea industry posts healthy rise in annual revenue
Kenya's tea industry recorded annual revenues of $1.38 billion, or about 23% higher than the previous year, thanks to improved auction prices and a weaker Kenya shilling. Exports made up the majority of the revenue, with $1.23 billion originating from 68 export markets in 2015, including the top five countries of Pakistan, Egypt, Britain, Afghanistan and the United Arab Emirates. A diversified export market was one of the priorities of the local government with some of the fastest growing markets identified as Poland, Somalia and Nigeria. The lifting of sanctions against Iran is also expected to boost the local industry. Average auction price at the Mombasa auction was $2.98 per kilogram in 2015, compared to $2.16 a year earlier.