Tea prices at the Mombasa auction remained flat last week even as the volume of the commodity offered for sale continued to decline.
A market report by lobby East African Tea Traders Association (EATTA) shows a kilogramme on average traded at Sh294, the same as the previous auction.
Volumes at the auction have been dropping in the last two weeks following a lack of supply from multinationals due to the strike that ended after last Tuesday auction.
Figures from EATTA indicated the volume offered for sale went down by 30,000 kilogrammes, partly due to the absence of multinationals.
“Out of 149,680 packages (9.78 million kilogrammes) available for sale, 129,020 packages (8,447,005kg) were sold with 13.80 per cent packages remaining unsold,” said the EATTA.
There is a likelihood of prices dropping in the coming sales after the strike was called off as volumes increase.
Multinationals account for 30 per cent of tea available at the regional auction.
The Tea Directorate has already forecast that prices will remain low in future sales following an increase in production in most growing zones in the county following good rains.
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