:. Food Industry News


Burundi Seeks Private Investment in Tea Industry

Source: Reuters
14/09/2007

Bujumbura, Sept 13 - Burundi needs private investment in its tea processing factories to boost quality and revenues, a government official said on Thursday.

Daily News Alerts

The coffee-growing nation has five main tea processing factories across the country, but they are fitted with obsolete machinery and analysts say the local industry loses $20 million a year because of the old equipment.

"We want to open up for local and foreign investors ... This will enable us to have new machines capable of processing a greater quantity of tea and improve the quality," said Jean de Dieu Mutabazi, Burundi's Agricultural Minister.

The government would let private investors set up their own tea factories and plant their own tea plantations.

"The aim of these reforms is to have a Burundian tea which is more competitive on the quality level," he told Reuters.

Mutabazi said the government planned to build five more tea factories with the help of donors.

Burundi exports 80 percent of its tea crop to Kenya for sale at auction in Mombasa, where due to low quality it generally fetches about half the price of Kenyan or Rwandan tea.

The state-run Burundi Tea Board (OTB) says it needs some $25 million to renovate its factories. It says output is seen rising 15 percent this year to some 7,300 tonnes thanks to good rains. It has forecast earnings of $11.3 million in 2007.

Tea is the second biggest hard currency earner for the small nation of 8 million people, where officials say it supports some 300,000 smallholder farmers.



GO   View more articles on this subject

Email This Article To A Colleague     Print A Copy Of This Page
 
 
 
 
FLEXNEWS - Business News for the Food Industry

About Us | Contact Us | Terms & Conditions | Privacy Policy
 
Daily News Alerts
Related Items
Burundi Tea Earnings Rise 62 pct on Low Supplies
Burundi Sees 2008 Tea Export Earnings up 46 pct
Ethiopia Doubles Tea Production, Seeks Investors
Chinese Drinks Firm to Launch Herbal Tea in Africa
Burundi Tea Loses $20 Mln Yearly Due to Old Machines
Rwanda 2007 Tea Output to Rise 18.7 pct
Branded Kenyan Coffee Expected on the Market in 2009
Sri Lanka Tea Sector to Slow Down in 2009
UK: Whittard Sold to Epic After Going into Administration
UK's Whittard Close to Administration

More in Food Industry News
U.S. December Retail Sales to Spur Profit Warnings
Branded Kenyan Coffee Expected on the Market in 2009
GLG Life Tech Corporation Begins Operations at Two...
Xiwang Sugar Holdings Issues Profit Warning and Postpones...
Perdigao Rationalises Dairy Operations; Shuts 2 Plants
ABInBev to Close London Brewery, 182 Jobs at Risk
Overview of Poland's Booming Food Processing Sector
UK Farmers' Union Attacks 'Unjustified' Milk Price...
UK Retailers Ease Christmas Fears but Still Gloomy
France: Bakery Firm Neuhauser 31 Mln Euro Maubeuge...

Top Headlines
U.S. December Retail Sales to Spur Profit Warnings
Branded Kenyan Coffee Expected on the Market in 2009
GLG Life Tech Corporation Begins Operations at Two...
Perdigao Rationalises Dairy Operations; Shuts 2 Plants
Xiwang Sugar Holdings Issues Profit Warning and Postpones...
ABInBev to Close London Brewery, 182 Jobs at Risk
Overview of Poland's Booming Food Processing Sector
UK Retailers Ease Christmas Fears but Still Gloomy
UK Farmers' Union Attacks 'Unjustified' Milk Price...
France: Bakery Firm Neuhauser 31 Mln Euro Maubeuge...
India Truckers' Strike Pushes Up Commodity Prices
Lithuania: Declining Sales Force Alcoholic Beverage...
Licht Sees Tighter coffee market from 2009/10
Australia's Queensland Sugar Eyeing Export Monopoly...
Food Corp of India Raises 2.2 Billion Rupees Via Bond...
British Shoppers Make Last Visit to Woolworths
Lotte to Buy South Korea Spirits Maker for $386 Mln
Canada: Atrium Acquires Nutri-Health Supplements
Frutarom Acquires the Business of UK Company Oxford
FrieslandCampina Becomes Royal FrieslandCampina
Sligro Food Group Posts EUR 2,168 Million Sales in...


 


FLEXNEWS 2008 - All rights reserved
ISSN 1950-6228