This archive report was first published on 15 October 2019.
Published on October 15, 2019, tea prices at the Mombasa auction have hit their highest value in four months.
The East African Tea Traders Association (Eatta) reported that a kilogram of tea averaged Sh225 in the latest trading session, up from Sh215 in the previous sale.
Notably, the volume of tea traded during the week increased by over 400,000 tonnes, marking one of the largest jumps in quantities in recent months.
According to Eatta managing director Edward Mudibo, the average price increased to Sh225 compared to last week's Sh215.
Interestingly, the improved performance gives farmers hope of earning a good bonus at the end of this financial year, especially considering the low returns they earned in the previous fiscal year.
Kenya Tea Development Agency (KTDA) affiliated farmers earned decreased returns of Sh69.7 billion in the 2018/2019 financial year, attributed to low international prices.
However, the reduced KTDA earnings placed Kenya at position two globally in terms of payment to farmers, with an average payment of Sh42 per kilogram.
Kenya remains the leading exporter of tea in the world, selling 95 percent of its tea in the global market.
