The Price of Tea experienced a slight drop in price at the Mombasa Weekly Tea Auction. Its price dropped from 1.97 Dollars during the tea auction which was held on the 11th of January 2021, the 12th and the 13th of January 2021, to 1.96 dollars during the auction held on the 18th of January, 19th and 20th of January 2021.
The year in year prices for Tea also fell by around half from 2.19 dollars during a similar period in 2020, to 1.96 dollars in the recent auction.
The amount on offer for sale dropped from 11.2 kilograms in the second auction held on the 11th of January 2021, the 12th and the 13th of January 2021, to 10.3 million kilograms in the more recent auction.
Year on year Tea on offer dropped from 11.4 million kilograms.
Out of the Tea on offer, only 9.09 million kilograms were sold in the following week’s auction as opposed to the 10 plus million kilograms sold in the 11th to 13th of January 2021 week.
The Ministry of Agriculture in Kenya has reportedly given the Kenya Tea Development Agency (KTDA) along with the multinationals in the Tea sector, a 2-month period to close all direct sea sales in line with the Tea Act which requires all players to sell their Tea exclusively via the Tea Auction.
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