This archive report was first published on 17 October 2019.
Published on October 17, 2019, tea prices at the Mombasa trading have hit a six-month high, with a kilo of tea fetching Sh233, up from Sh225 in the previous sale.
According to a market report by the East African Tea Traders Association (EATTA), the traded volume increased by over 500,000 tonnes, one of the largest jumps in quantity in recent months, as the tea sector recovers from the dry weather that hit the country in the first quarter.
“The average price increased to Sh233 when compared to last week’s Sh225,” says EATTA managing director Edward Mudibo.
While the price is still lower than the Sh232 a kilo recorded in a similar period last year, the impressive performance gives farmers hope of earning a good bonus at the end of this financial year, if the trend continues.
Tea farmers affiliated to KTDA earned lower returns of Sh69.7 billion in 2018/2019 financial year, attributed to low international prices. Last year farmers earned Sh84 billion.
Kenya is the leading exporter of tea in the world, selling 95 percent of its tea in the global market, with the country exploring new markets and expanding the existing ones such as China.
