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State to drop minimum tea prices as stocks pile up
Principal Secretary State Department for Investment Promotion Abubakar Hassan Abubakar speaking during DTB's third economic and sustainability engagement forum at Serena Hotel in Nairobi on February 14, 2024. PHOTO | LUCY WANJIRU | NMG
The government plans to drop the minimum price of $2.43 per kilogramme of tea sold at the Mombasa auction on continued outcry that sellers are stuck with stocks of unsold consignments of the green leaf.
The minimum price introduced in 2021 for tea sold by the Kenya Tea Development Agency (KTDA), with an estimated production market share of 65 percent, has a major influence on the auction.
