KTDA raises pay by Sh5 per kilo for eastern tea farmers
Monday March 15 2021
By IRENE MUGO
Farmers in the Mount Kenya region will now receive Sh5 more per kilo of tea delivered to factories monthly as the Kenya Tea Development Agency (KTDA) moves to increase their pay and end the March mini-bonus payout.
The growers will receive Sh21 per kilo of the green leaf up from the current Sh16 monthly advance payment.
The new payment mode will be implemented this month.
“The Board has reviewed the initial green leaf payment rate from Sh16 to Sh21 per kilo of the leaf with effect from January 2021,” reads a memo to factories in the East of Rift Valley.
Uhuru orders probe into KTDA activities and tea factory elections
Friday March 12 2021
A group of women picks tea leaves. President Kenyatta says KTDA is locked in inherent conflicts of interest that are also misaligned with the interest of tea farmers. FILE PHOTO | NMG
By JOHN KAMAU
The inquiry will look into KTDA s activities and those of its subsidiaries.
Cartels in the tea sector are set for more trouble after President Uhuru Kenyatta directed the Attorney General to conduct an inquiry into the workings of the giant Kenya Tea Development Agency (KTDA) and the activities of directors.
President Kenyatta has also ordered elections of directors of the various factories to be conducted within the next 60 days and ordered the Cabinet Secretary for Interior Fred Matiang i and CS for Agriculture Peter Munya to ensure the full implementation of the Executive Order.
Tea prices in Kochi both dust and leaf varieties continued to rule lower following subdued demand from exporters, upcountry and local buyers.Traders said that demand has started dwindling which is
Limuru Tea issues profit warning
Thursday February 18 2021
By BRIAN AMBANI
Agricultural firm Limuru Tea #ticker:LIMT expects its net profit for 2020 to decline by at least 25 per cent, citing challenges heightened by the pandemic.
In a notice to shareholders on Thursday, the Nairobi Securities Exchange-listed firm said business was weighed down by low tea prices and rising cost of production amid Covid-19 economic disruptions.
Limuru Tea posted a Sh1.9 million after-tax profit in 2019, a drop from Sh2.5 million it made in 2018 after bouncing back from a loss-making streak.
“The company’s performance is expected to record a decline in the net profits attributable to the shareholders of the company for the financial year ended December 31, 2020 as compared with the audited financial results for the year ended December 31, 2019.