Browsing: East Africa Tea Trade Association

The flower industry is among the most affected in Kenya. The IMF says that the coronavirus pandemic will cause a recession in 2020 that could be worse than the one in 2008-2009. www.theexchange.africa

Travel and flowers: Coronavirus painfully slowing down Africa’s economy

Countries

We are in a recession!

This is the stark reality that the world is facing and it has come sooner than many have predicted thanks to the covid-19 coronavirus. Already, the world is reeling from shock at the sheer magnitude of effect the virus has had on every aspect of life.

In addition to the lives and man-hours lost, the world will take a long time to recover from the hit. The global economy has suffered massive losses since the WHO announced the threat of the disease which was made public globally on December 31, 2019.

Already, airlines have started manifesting the effects of the coronavirus outbreak with Kenya Airways (KQ) staff taking a pay cut starting with newly appointed CEO Allan Kilavuka who will see his salary whittled down by 80 per cent from the 35 per cent he had announced earlier.

Tala’s next mission after freezing operations in

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A rising production and sale of Kenya tea has not gone un noticed with India getting jittery that the increase in volume will affect its own production

Panic as Coronavirus forces Africa’s largest tea auction shut

Industry and Trade

The East Africa Tea Trade Association, the organization that runs the famed Mombasa tea auction has announced that it was postponing indefinitely the planned auction of regional teas, sending the industry into chaos.

With the suspension, 600,000 small-scale farmers and employees. of factories across the region will not be processing tea leaves unless those destined for alternative markets rather than the Mombasa auction.

The postponement comes amid reports that key buyers have failed to turn up for trade at the auction resulting in massive price drops.

“Further developments have come to light with respect to the spread of COVID-19 virus. It is due to this that the East African Tea Trade Association has taken the decision to postpone auction-12, the secondary auction of Monday 23rd and Primary auction of Tuesday 24th April,” noted a statement by Edward Mudibo, the Managing director of EATTA.

According to the figures from the auction, …