Local Tea Farmer [Photo: KBC]
The Kenya Tea Development Agency (KTDA) says prices for Kenyan tea at the Mombasa auction have continued to weaken on the back of low demand at the weekly trading.
The value of tea in the latest sale dropped to 2.27 dollars this week from 2.29 dollars recorded last week, remaining below the government-set reserve price of 2.43 dollars a Kg.
30 percent of the total teas offered for trading at the auction were also withdrawn by the sellers.
This is because traders at the auction opted for cheaper teas from other East African regional countries.
Tea from the regional countries are traded at the Mombasa auction by the East African Tea Traders Association before they are shipped out of the country to overseas markets.
Meanwhile, the value of tea has for the recent weeks sold below the minimum price, negatively impacting farmers’ earnings at the end of this financial year closing at the end of June 2022.
A newsmaker, reporter and anchor at Pearl Radio, Ndalilah Sharon is witty and savvy.
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