Tea prices at Mombasa auction rallied for the third time in a row to end a streak of poor prices witnessed in mid-January.
Data from the East Africa Tea Traders Association (Eatta) indicates that the price of the beverage increased from Sh212 last week to Sh215 in this week’s sale.
The price of the commodity at the auction had started on a high note in the first sale of January before taking a dip in the subsequent sales.
Tea prices at Mombasa auction rallied for the third time in a row to end a streak of poor prices witnessed in mid-January.
Data from the East Africa Tea Traders Association (Eatta) indicates that the price of the beverage increased from Sh212 last week to Sh215 in this week’s sale.
The price of the commodity at the auction had started on a high note in the first sale of January before taking a dip in the subsequent sales.
The rally in value on Tuesday saw a decline in withdrawals on quantities of tea that had been offered for sale during the trading.
“Sale 06 average price increased to Sh215 ($1.96) when compared to Sale 05 Sh212 ($1.93),” said a market report from East Africa Tea Traders Association.
The withdrawals stood at 11 percent in the latest auction when compared with 14 percent last week.
“Out of 13.9 million kilos available for sale, 12.3 million kilos were sold with 11 percent remaining unsold,” said Eatta.
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Note: The results are not exact but very close to the actual.
