Average tea prices at the weekly Mombasa auction slightly gained this week, despite remaining below the preferred two-dollar mark for the eleventh week running. 9.78 per cent packages remained unsold,” the East African Tea Trade Association (EATTA) notes in its market report. Last month, Kenya Tea Development Agency noted persistent high production and a global oversupply, which it said had pushed down the average tea prices for its managed factories. Last year, average tea auction prices fell by six per cent compared to the previous year, blamed on the high production and a depressed market occasioned by the Covid-19 pandemic. 2020's full-year average price was $1.80 (Sh192.02 ), which was lower compared to 2019, when it fetched an average $2.05 (Sh218.69) at the auction.

Source: The Star May 22, 2021 06:56 UTC