Record Sh1.2 billion sale orders cancelled in tea auction on low prices

Traders withdrew teas worth Sh1.2 billion from the latest auction as prices remain low in the market, making it the largest consignment to have been taken off the trading floor this year.

Data from the East African Tea Trade Association (Eatta) indicates that 4.7 million kilogrammes of tea were withdrawn during the sale as the price increased marginally to $2.25 (Sh262) a kilo from $2.24 (Sh260.7) in the previous sale.