Kenyan tea earnings under threat as Egypt, Pakistan run out of forex

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A tea plucking machine in operation at a tea estate in Kericho county on January 16, 2023. PHOTO | VITALIS KIMUTAI | NMG

Kenya is staring at a possible loss of foreign exchange earnings from tea as Egypt and Pakistan grapple with a serious scarcity of foreign currency in those markets that have seen shipping lines threaten to withdraw services, a move that will have serious ramifications on one of Nairobi's top exports.

Foreign ships, according to the Economic Times of India, want to pull out of Pakistan due to non-payment of freight charges as the banks fail to remit the money to shipping lines due to a dollar shortage.

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