According to the East Africa Tea Trade Association currently, the average price of tea sold at the Mombasa auction fell to a a record low of USD 2.16 its lowest since the start of the year.
Russia has been a major importer of tea from East Africa, particularly Kenya. The Russian war had hurt the demand for tea and prices have been falling since the start of the war. Russian traders have been inactive for several weeks.
According to the East Africa Tea Trade Association currently, the average price of tea sold at the Mombasa auction fell to a a record low of USD 2.16 its lowest since the start of the year. The prices during the previous sale were USD2.23. The price is also far below the minimum price set by the Government in 2021.
The volume offered for sale also marginally declined to 8,887,849 kilos against 10,341,937 kilos during the same period a year ago, reflecting a depressed harvest by farmers hit by poor weather.
There are some signs of demand picking up from other markets with Egyptian and Pakistan traders showing interest, EATTA Managing Director Edward Mudibo said. Demands from Yemen, other Middle Eastern countries, Kazakhstan, other CIS states, and the UK also have shown positive growth. Sudan was also active while demand from Afghanistan has gone down.
Also read;
https://trendsnafrica.com/kenyan-tea-to-benefit-from-indo-pak-standoff/
https://trendsnafrica.com/kenya-us-to-restart-trade-talks/
