Tea Auction Records a Stagnation in Prices

The weekly Mombasa Tea Auction held on 9th, 10th, and 11th August 2021 had 11 million kilograms of tea offered for sale. The amount on offer decreased from 12 million kilograms offered during the previous sale.

Of all the tea offered for sale, 6.8 million kilograms were sold, compared to 10.4 million kilograms sold during the previous sale.

The tea auction recorded a stagnation in prices, with a kilogram selling at an average price of $1.95, same as during the previous sale held on 2nd, 3rd, and 4th August 2021.

Meanwhile, multinational firms have announced plans to set a minimum price for their tea at Mombasa Auction to cut losses occasioned by the low cost of the commodity in the market.

The Kenya Tea Growers Association (KTGA), an umbrella body for the multinational firms, has written to the East African Tea Traders Association (Eatta), which manages the auction, informing it of the decision, just a month after the State introduced reserve price for smallholder farmers.

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