The weekly Mombasa Tea Auction held on 16th and 17th August 2021 had 8.8 million kilograms of tea offered for sale. The amount on offer decreased from 9 million kilograms for the same period last year, and from 11 million kilograms offered during the previous sale.
Of all the tea offered for sale, 6.5 million kilograms were sold, compared to 8 million kilograms for the same period last year, and 6.8 million kilograms sold during the previous sale.
The tea auction recorded a slight increase in prices, with a kilogram selling at an average price of $1.96, compared to $1.95 during the previous sale held on 9th, 10th, and 11th August 2021, and $1.94 during the same period last year.
Meanwhile, multinational firms have announced plans to set a minimum price for their tea at Mombasa Tea 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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