Tea Prices Drops To USD 2.24 As Volume Declines

NAIROBI, Kenya, June 23 – The average price of tea sold at the Mombasa auction has decreased marginally to USD2.24 (Sh264) per kilogram compared to the USD 2.25(Sh265) recorded during the previous sale.

Data from the East Africa Tea Trade Association (EATTA) shows that the total volume traded was 815,763 kilos, a decline from the  9,334,016 kilos sold during the previous sale.

During a similar period a year ago, the total volume sold was 5,835,851 kilos.

EATTA Managing Director Edward Mudibo said that “Egyptian Packers and Afghanistan lent more support with maintained activity from Pakistan Packers, Bazaar, Yemen and other Middle Eastern countries.

“Kazakhstan, other CIS states, and the UK showed good support but at lower levels with Russia and Sudan active but selective. Iran was subdued while Local Packers reduced inquiry. Somalia maintained support at the lower end of the market,” EATTA said..

During a similar period in 2021, a kilo of tea was sold at USD 1.55, this is before the Government in September, introduced the minimum price regime of USD 2.53 per kilogram.

The move was aimed at cushioning smallholder farmers who were affected by the deteriorating market that had seen selling prices nearly slip below the cost of production.