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.
How geographical branding can lift Kenya’s tea industry
Tuesday February 09 2021
By ROBERT KETER
Summary
The recent enactment of the Tea Bill into law came as a relief to farmers, some of whom had lost hope in the future of the industry.
For the proponents of the Bill, it was certainly a win. But all is not lost for its opponents as there is still room to review and make amendments where necessary.
The law has sparked discussions on many issues that had been put in the back burner including the geographical brand of Kenya teas, price stabilisation, minimum price for green leaf, and marketing tea as a brand
NAIROBI, Jan. 20 (Xinhua) Kenya Alex Mwangi inherited his father tea farm ten years ago after the death of his parents. Mwangi one acre farm in Nyeri, in cen
Tea sector needs sustainable solutions
Thursday January 07 2021
By BITANGE NDEMO
Summary
Re-introducing governments into commercial activities of the tea sector may undermine SSTGs in the near future and perhaps may destroy the sector in the same way the coffee sub-sector was affected.
Technology brings transparency in decision making, the pricing and disbursement of resources.
It is best in rooting out corruption since it will empower the farmers to understand the margins at every layer of the enterprise and enhance their skills to negotiate fair deals for their produce.
When the Agriculture Cabinet Secretary (CS), Peter Munya, recently embarked on reforming the tea sector, his was seen as an effort to sustain the tea growers. But these efforts risk excluding the 420,000 small-scale tea growers (SSTGs) in the country and might not address their sustainability in the long run.
Kenya: Why Senators Have Last Chance to Rescue Tea Farmers From Cartels allafrica.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from allafrica.com Daily Mail and Mail on Sunday newspapers.