Rwanda rakes in Rwf63bn from tea exports during 2016/17 FY

Rwanda earned $8.6 million (about Rwf7.3 billion) from tea exports during the month of June, according to National Agricultural Export Board (NAEB). This was 39.4 per cent increase in export revenue compared to $6.1 million that was recorded during the same period in 2016, NAEB indicates in its monthly report for June. The increase was largely attributed to the good price on the international market averaging $3.38 (Rwf2,873) per kilogramme compared $2.43 a kilo in 2016. “This increase is also attributable to high volumes of tea sold in June 2017,” the export body said in the report. Annual comparision Overall, the sector’s export receipts rose to more than $74.5 million (Rwf63.3 billion) cumulatively in the period from July 2016 to June 2017 compared to $70.8 million registered over similar period the previous fiscal year. NAEB attributed the growth in revenue to high volume of tea sold during the period compared to the July 2015 to June 2016 period, as well as the good prices registered in the first six months of the year. Increased production Meanwhile, total production of made tea amounted to 2,272,015 kilogrammes in June 2017 increasing by 182,652 kilogrammes or 8.7 per cent compared to 2,089,363 kilogrammes produced in the same period 2016. Green leaf production rose to 9,200,222 kilogrammes in June, which was higher than 8,667,473 kilos recorded in same period the previous year, according to the report. The export body recently unveiled a new strategic plan to help boost the country’s tea exports. NAEB targets $94.9 million from tea exports per annum by 2018, from $65.7 million in 2013. The agro-exports plans to distribute 43 million tea seedlings by the end of this year. So far more than 13,650,000 tea seedlings have been distributed and planted.

News

Rwanda rakes in Rwf63bn from tea exports during 2016/17 FY