Kenya: Tea Prices Rise Slightly Amid Increase in Volumes Traded

7 November 2022
Capital FM (Nairobi)
By Susan Nyawira

Nairobi — Tea prices at the weekly Mombasa auction rose slightly this week amid an increase in the volumes traded.

At this week's auction, a kilo averaged USD2.46(Sh299.14) up from USD2.42(Sh294.27) last week.

The prices have remained above the minimum reserve price of $2.43(Sh295.49) for the past month signaling better returns for tea farmers.

The improved prices saw the total volumes traded at the auction increase by 447,638 kilos compared to the previous week.

"There was good demand but at irregular levels with prices following quality for the 197,500 packages (13,241,949.00 kilos) available for sale. 139, 740 packages (9,340,838 Kilos) were sold with 29.25 per cent of packages remaining unsold," said East African Tea Trade Association (EATTA) managing director Edward Mudibo.

In the week, Pakistan Packers, Bazaar, and Afghanistan showed strong support with more interest from Egyptian Packers, Yemen, other Middle Eastern countries, Kazakhstan and other CIS states.

Sudan and UK lent useful but selective interest while Iran was more active.

Mudibo noted that Russia maintained inquiry with local packers active on account of price, Somalia maintained activity at the lower end of the market.

Read the original article on Capital FM.

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