NAIROBI, Kenya, Jan 24 -Tea prices at the Mombasa auction sold at an average price of USD 2.53 (Shs 287) per kilogram in the latest sale as compared to USD 2.42 (Sh 276) per kilogram during the previous sale.
According to the East African Tea Traders Association, the weekly tea auction held on 17th, 18th, and 19th January 2022 had 13 million kilograms of tea offered for sale.
This is an increase from 12.8 million kilograms during the previous sale and from 10.3 kilograms during a similar period last year.
During the previous sale, tea prices had declined marginally, reversing the gains witnessed in the first sale of this year when prices stood at USD 2.45 ( Sh276), a six-year high.
Tea prices which have been on the rise since November come on the back of the minimum reserve price regime introduced by the government.
In July, KTDA introduced a minimum reserve price of Sh268 (USD2.43) per kilo of processed tea in a move aimed at cushioning smallholder farmers who were affected by the deteriorating market that had seen selling prices nearly slip below the cost of production.
