This archive report was first published on 11 October 2019.
Published on October 11, 2019, tea prices have shown signs of a possible bounce back after suffering a five-year low in July, where prices hit an average $1.76 (KSh182.70) per kilo.
At this week's Mombasa auction, the average price rose to KSh 231.32 per kilo, a KSh8.30 increase from last week's auction price of KSh223 per kilo.
Despite the rise, volumes traded remained relatively stable, closing at 7.7 million kilos, compared to 7.6 million kilos traded in last week's auction.
According to the East African Tea Trade Association, out of 134,918 packages (8,980,000 kilos) available for sale, 116,636 packages (7,786,884 kilos) were sold.
Market reports note that Pakistan packers showed strong support and were dominant, with useful interest also coming from Yemen and other Middle Eastern countries. Egyptian packers, Afghanistan, Kazakhstan, and other CIS nations also lent useful inquiry, as noted by EATTA managing director Edward Mudibo.
The Kenya Tea Development Agency (KTDA) is facing scrutiny over low bonus payments to farmers this year.
