Tea prices rose to KSh 231 per kilo at this week’s Mombasa auction, showing signs of a possible bounce back after suffering a five-year low in July, where prices hit an average $ 1.76 (KSh182.70) per kilo.
This week’s average price showed a KSh8.30 rise from last week’s auction price of KSh223 per kilo, to KSh231.32 per kilo.
Volumes traded closed at 7.7 million kilos, compared to 7.6 million kilos traded in last week’s auction.
“Out of 134,918 packages (8,980,000 kilos) available for sale, 116,636 packages (7,786,884 kilos) were sold.” East African Tea Trade Association market reports notes.
“Pakistan packers showed strong support and were dominant with more and useful interest from Yemen and other Middle Eastern countries. Egyptian packers, Afghanistan, Kazakhstan, and other CIS nations lent useful inquiry,” EATTA managing director Edward Mudibo said yesterday.
Kenya Tea Development Agency (KTDA) is on the spot over low bonus payments to farmers this year.