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Kenya tea development agency to set up a stabilization fund to cushion farmers from losses

21st October, 2014

Under fire Kenya tea development agency has welcomed proposals from the ministry of agriculture to set up a stabilization fund to cushion farmers from losses. KTDA chairman Peter Kanyango says the move is a step in the right direction even as the agency is questioned as to how it handles small holder tea farmers. KTDA says the move has been long overdue given increased completion in the global tea market. Over supply of tea in the market has significantly depressed prices which led to lower bonuses during the year. The chairman however rejected claims that KTDA was to blame for the reduced tea prices at the Mombasa auction adding that looking for alternative markets for Kenyan tea would be needed to boost farmer returns.