Commodities

Tea prices stay flat in auction

tea

A woman picks tea leaves in Nyeri. FILE PHOTO | NMG

The price of tea at the Mombasa auction remained constant in the latest weekly sale but held within a six-year high as trading continues to record good earnings in the recent days.

East African Tea Traders Association (Eatta) said the value held at Sh288 per kilogramme.

The price was despite growth in volumes, which was 1.1 million kilos more when compared with the previous trading.

“A good general demand was experienced for the 217,146 packages (14.1 million kilos) offered for sale with 182,146 packages (11.9 kilos) being sold while 16.12 percent of packages remaining unsold,” said the Eatta.

The minimum price set by government last year in August helped to push up the price of the commodity at the auction, which had dropped to below Sh200, subjecting farmers to massive losses as the earnings were less than the cost of production.

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