The London Tea Exchange has included Malawi as one of its 43 country initiative to promote Malawi tea and investments in the coming years, its Chief Executive Sheikh Aliur Rahman has said.
Rahman said the exchange was aimed at expanding the market base for Malawi tea and promote Malawi investment prospects, through tea tasting events for the exchange.
Figures from the Reserve Bank of Malawi have shown that tea exports in 2018 were $1.6 million higher than in 2017.
Figures show that in 2017, exports registered a profit of $14.5 million, then $16.1 million is 2018. The figures show that the tea price lowered from $1.86/kg in the first quarter of 2018, to $1.84/kg in the second quarter. The the third quarter registered a price of $1.71/kg then 1.54/kg in the fourth quarter.
The slight increase in exports profits was therefore attributed to the lowering prices. In 2015, it was noted that tea production was lower than ever, whilst production has been improved since then, but buying prices have not been fair on the market.