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Commodities

Tea price rises Sh2 at weekly auction

Tea pickers
Tea pickers in Nandi County. FILE PHOTO | NMG 

The price of tea at Mombasa auction rose by Sh2 in the second week of trading but remained within the two-year low range.

Lobby East African Tea Traders Association (Eatta) showed the price of the beverage increased from Sh217 last week to Sh219 in the latest sale.

The marginal rally follows a decline in volume from 9.1 million kilos to nine million during the Tuesday auction.

In comparison to the same period last year, the price of the beverage has dropped 21 per cent from a high of Sh278.

Eatta attributed the low price to increased volume due to high production. Earnings from tea exports is projected to rise by Sh5 billion this year due to low volumes and high prices.

The Tea Directorate said this year the volume will drop from a high of 450 million kilos realised in 2018 to a low of 435 million.

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