The CS Agriculture Peter Munya has today officially launched the Tea Industry Price Stabilization Taskforce report. In his speech, the CS said price stabilization is one of the critical reform agenda items envisioned by the Tea Act of 2020 for the tea industry. The Tea Act of 2020 calls for a Tea Levy to be levied on tea exports and imports. A portion of this levy will go toward income or price stabilization.
The tea price report suggests that existing policies and contracts with service providers to be reviewed to ensure compliance with the Tea Act, 2020, that the relationship between tea factory companies, the holding company, and other KTDA subsidiaries be restructured.
The reforms are intended to address various challenges confronting the tea sub-sector, threatening its competitiveness and sustainability throughout the Value chain.