Tea prices dip after rising at weekly auction

A tea auction in Mombasa. FILE PHOTO | NMG

What you need to know:

  • A kilogramme of the beverage on average traded at Sh284, down from Sh276 in the previous sale.

Tea prices at the Mombasa auction fell marginally last week after registering impressive performance in the previous two sales, as the volumes offered for trading rose.

A kilogramme of the beverage on average traded at Sh284, down from Sh276 in the previous sale.

The volume offered for sale during the auction rose by 701,000 kilogrammes, after declining by half a million kilos during the previous auction.

At Sh284 per kilo, the price was lower compared with the same period last year when it averaged Sh293.

“Out of 179,439 packages (11,300,000 kilos) available for sale, 160,780 (10,226,858 kilos) were sold with 10.39 per cent of packages remaining unsold,” said a report from the auction.

The Tea Directorate had anticipated the volumes to increase following good weather in November last year that saw growth in green leaf delivery at the factories.

The directorate said last year that there was a likelihood of prices firming up in sales due to a dry spell that started late December.

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Note: The results are not exact but very close to the actual.