The 54 Tea Factory Companies managed by Kenya Tea Development Agency Management Services Limited (KTDA- Ms) have this week released KShs 27.62 billion being the final payment, popularly known as "bonus" to tea farmers for the Financial Year ended June 30, 2020. The money will be available from their respective bank's starting tomorrow.
KTDA says that this year's total payment represents an 11.6% increase from last year. The agency adds that the growth is attributed to an increased green leaf production by the factories, which grew by 29% for the year to stand at 1.45 billion Kgs compared to 1.13 billion Kgs over a similar period last year, as well as a more favourable exchange rate. This is despite the average price for a kilo of sold tea falling by 8.1% to an average twelve - year low of USD 2.38 per kilo compared to USD 2.59 per kilo in 2019.
No comments:
Post a Comment