Egypt’s Tea Market Revives Kenya’s Exports
The Egyptian tea market has revived Kenyan exports by 30 percent and improved its standing at the auction by 25 US cents per kilogram.
Export volumes of tea have improved greatly since Egypt lifted tariffs it had imposed on the Kenyan beverage, said the Daily Nation.
Nicholas Munyi, the East African Tea Trade Association chairman, was quoted by the Kenyan daily as saying that since last week's waiver of a 30 percent duty by Egypt, prices at the auction improved by 25 US cents per kg.
The dispute with Egypt had precipitated a trade crisis, which saw up to 10 million kgs of tea destined for Egypt blocked and a subsequent fall in tea prices that suppressed activity at the weekly auction.
The Egyptian decision came following talks in Nairobi between the Egyptian ambassador and Kenya's trade minister.
The trade dispute erupted last month when Egypt, a key market for Kenyan tea, imposed the retaliatory import tariff, saying Kenya had implemented a similar measure on Egyptian products – Albawaba.com
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