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Tea price rebounds during last 2017 auction

Tea production rebound follows a sharp decline in the first quarter of the year. FILE PHOTO | NMG
Tea production rebound follows a sharp decline in the first quarter of the year. FILE PHOTO | NMG 

Tea prices in the last sale of the year at the Mombasa auction rebounded from a seven-month low recorded last week to settle at Sh279 despite high volumes offered for sale.

A market report from East African Tea Traders Association (Eatta) indicates a kilogramme (Kg) on average fetched Sh279 up from Sh268.

According to the report, the volume of tea offered was more by 800,000 kg compared with the previous auction.

There has been a significant growth in volumes following the good weather that has triggered increase in green leaf delivery at the factories.

“Out of 178,260 packages (11,520,000 kilos) available for sale, 169,760 packages (10,970,969 kg) were sold with 4.76 per cent packages remaining unsold,” says the report.

The Tea directorate last week had said the prices of the beverage would go up in the coming sales after poor performance last week.

Tea production rebound follows a sharp decline in the first quarter of the year that saw green leaf on the farms fall by almost half.

The Tuesday sale was the last in 2017 as the auction takes a break ahead of the festive season that starts next week.

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