Business

KTDA Farmers’ Record a 42% Increase in Earnings to a Record of Ksh 63 Billion

Tea farmers allied to the Kenya Tea Development Authority( KTDA) have received a record payment of Sh62.89 in the year ending June, the highest ever payment disbursed in five years.

This is a 42 per cent increase from the Sh 44.15 billion issued in the previous year. The final bonus stood at Sh37.11 billion in addition to the monthly payments accumulating to Sh25.78 billion.

The increased earnings by the KTDA farmers’ are partly attributed to higher earnings of the commodity which rose to an average of USD 2.76  per kilogramme from USD 2.18.

In the year under review, there was a 44.6 per cent increase in total average earnings per kilogramme in addition to a 26.4 per cent increase in tea auction price per kilogramme.

The Government in July introduced a minimum price of  USD 2.43 per kilogramme in order to cushion farmers who were reeling from the high cost of production which reduced their earnings.

Kericho and Bomet farmers were the greatest beneficiaries earning Sh15.3 billion followed by Kiambu and Embu who earned Sh13.2 and  Sh8.9 billion respectively.

Read also; Relief as Tea Auction Records an Increase in Prices.


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