Nairobi — Tea prices increased slightly at last week's Mombasa auction ending a season of declining prices, as demand from traders improved.
At the auction, a kilo averaged average price closed at USD2.19(Sh278.24), an increase of 4 USC when compared to the previous sale which closed at USD2.15(Sh273.16).
Despite the week-on-week increase, the average price dropped by 31 USC when compared to the same sale in 2022 which closed at USD 2.50(Sh317.63)
"There was good and improved demand for the 242,022 packages (16,269,167 kilos) on offer. 146,702 packages (9,696,351 Kilos) were sold with 39.38% of the packages remaining unsold," said the East African Tea Trade Association (EATTA) managing director Edward Mudibo.
Despite the improved demand and price, Mudibo noted that the total volume traded for the sale was 386,923 kilos less than the previous sale meaning supply was low.
During the auction, Afghanistan and Egyptian Packers lent strong support and were dominant with Yemen and other Middle Eastern countries more active.
"Sudan, the UK, Russia, Kazakhstan, and other CIS states-maintained inquiry while Iran and Pakistan Packers showed selective interest," EATTA noted.
Bazaar was quiet while local packers maintained activity. Somalia was active at the lower end of the market.
