Drought fear lifts tea prices at Mombasa weekly sale

High tea volumes have overwhelmed warehouses in Mombasa. FILE PHOTO | NMG

Panic-buying at the Mombasa auction last week marginally lifted tea prices as traders rushed to purchase more of the commodity in anticipation of a shortage in supplies in the coming days as a result of the ongoing drought.

Tea traders at the auction have anticipated prices at the weekly auction will be firming in the coming days as buyers purchase more stocks for future exports.

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