[Photo: Capital News]
The East African Tea Trade Association (EATA) says tea prices at the Mombasa auction declined in the latest sale last week, as the supply of the commodity continues to rise in the market.
According to the Association, the price of the beverage per kilogram decreased to 282 shillings from 283 shillings in the previous sale.
“There was a fairly good demand for the 197,610 packages (12.9 kilos) offered for sale with 165,310 packages (10.8 Kilos) being sold,” the association,” said Eatta.
The decline in price in the auction was occasioned by high volumes during the sale, which was 309,000 more when compared with the previous trading.
This comes as the quantities of tea at the auction have been on the high in January.
This is after they volumes rose to 558 Million kilograms from 518 million kilograms in December 2021.
The export earnings in 2021 were recorded at136 billion shillings compared with120 billion shillings that was recorded in 2020.
(EATA) says the performance was driven by higher volumes which compensated for low international prices in the first eight months of 2021.