{"id":25730,"date":"2021-04-11T16:22:08","date_gmt":"2021-04-11T16:22:08","guid":{"rendered":"https:\/\/www.africa-press.net\/kenya\/?p=25730"},"modified":"2021-04-11T16:22:08","modified_gmt":"2021-04-11T16:22:08","slug":"tea-auction-prices-drop-to-lowest-this-year","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/economy\/tea-auction-prices-drop-to-lowest-this-year","title":{"rendered":"Tea auction prices drop to lowest this year"},"content":{"rendered":"

AfricaPress-Kenya<\/strong>: Average tea prices at the weekly Mombasa auction dropped to the lowest mark so far this year, with a kilo averaging $1.81 (Sh194.21).<\/p>\n

This is down from last week’s $1.83 (Sh196.36),\u00a0East African Tea Trade Association (EATTA)\u00a0data shows.<\/p>\n

The price drop came\u00a0amid an increase in volumes traded this week which\u00a0totaled\u00a010.5 million kilos, up from 10.4 million kilos last week.<\/p>\n

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<\/div>\n<\/div>\n

The commodity fetched $1.96 (Sh210.31) in a similar sale last year when the Covid-19 pandemic had hit the country.<\/p>\n

The highest price this year remains $2 (Sh214.60) recorded five weeks ago.<\/p>\n

It has averaged $1.91 (Sh204.94) since\u00a0January\u00a0when it opened the year at $1.94 (Sh208.16).<\/p>\n

Out of\u00a0190,559\u00a0packages\u00a0(12,577,098.50\u00a0 kilogrammes)\u00a0available for sale,\u00a0160,519\u00a0packages\u00a0(10,569,567\u00a0kilos)\u00a0were sold. 15.76\u00a0per cent\u00a0packages remained unsold,\u00a0EATTA notes in its weekly report.<\/p>\n

\u201cThere was more and strong support from Kazakhstan, other CIS states and Sudan with increased and strong inquiry from Egyptian Packers while UK were more active,\u201d”EATTA managing director Edward Mudibo\u00a0said.<\/p>\n

Pakistan Packers reduced support while Bazaar and Afghanistan showed more interest but the latter were more selective with Russia active.<\/p>\n

\u201cThere was less activity from Yemen and other Middle Eastern countries while Iran were quieter with Local Packers active on account of price. Somalia were active at the lower end of the market,\u201d\u00a0said Mudibo.<\/p>\n

An asking price of below two dollars a kilo is not good, according to Mudibo.<\/p>\n

\n
<\/div>\n<\/div>\n

The low prices so far signal low earnings for farmers, who last year\u00a0were cushioned by a stronger dollar against the shillings as prices remained low.<\/p>\n

Oversupply of tea at the auction affected prices in the second half of last year, according to the Kenya Tea Development Agency.<\/p>\n

This is despite a slight drop on\u00a0the\u00a0volume of green leaf produced by small-holder tea farmers under KTDA management\u00a0during the six months ending December.<\/p>\n

The volumes\u00a0dropped marginally by 0.7 per cent to 615 million\u00a0kilos ,\u00a0compared to 619.5 million kilos\u00a0recorded during the same period in 2019.<\/p>\n

There was however high supply from the region, in addition to the global oversupply which affected the prices.<\/p>\n

\u201cHigh volumes of tea produced in the East African region and elsewhere on the globe have contributed to the continued price decline in the global market,\u201d KTDA management services managing director, Alfred Njagi,\u00a0notes.<\/p>\n

The Mombasa Tea Auction is one of the largest in the world where teas\u00a0from Kenya, Uganda, Rwanda, Tanzania, Malawi, Ethiopia and the Democratic Republic of Congo\u00a0are\u00a0traded.<\/p>\n

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 pandemic.<\/p>\n

2020’s full-year average price was $1.80 (Sh194.14\u00a0), which was lower compared to\u00a02019, when it fetched an average $2.05 (Sh219.97) at the Mombasa auction.<\/p>\n

The government is currently pushing for reforms in the sector,\u00a0which it\u00a0believes will improve farmers’ earnings.<\/p>\n","protected":false},"excerpt":{"rendered":"

AfricaPress-Kenya: Average tea prices at the weekly Mombasa auction dropped to the lowest mark so far this year, with a kilo averaging $1.81 (Sh194.21). This is down from last week’s $1.83 (Sh196.36),\u00a0East African Tea Trade Association (EATTA)\u00a0data shows. The price drop came\u00a0amid an increase in volumes traded this week which\u00a0totaled\u00a010.5 million kilos, up from 10.4 […]<\/p>\n","protected":false},"author":84,"featured_media":25734,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[8163,644],"class_list":["post-25730","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-eatta","tag-tea"],"yoast_head":"\nTea auction prices drop to lowest this year - kenya<\/title>\n<meta name=\"description\" content=\"Average tea prices at the weekly Mombasa auction dropped to the lowest mark so far this year, with a kilo averaging $1.81 (Sh194.21)\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/kenya\/economy\/tea-auction-prices-drop-to-lowest-this-year\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tea auction prices drop to lowest this year\" \/>\n<meta property=\"og:description\" content=\"Average tea prices at the weekly Mombasa auction dropped to the lowest mark so far this year, with a kilo averaging $1.81 (Sh194.21)\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/kenya\/economy\/tea-auction-prices-drop-to-lowest-this-year\" \/>\n<meta property=\"og:site_name\" content=\"kenya\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-11T16:22:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2021\/04\/unnamed-5.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"750\" \/>\n\t<meta property=\"og:image:height\" content=\"562\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/tea-auction-prices-drop-to-lowest-this-year#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/tea-auction-prices-drop-to-lowest-this-year\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Tea auction prices drop to lowest this year\",\"datePublished\":\"2021-04-11T16:22:08+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/tea-auction-prices-drop-to-lowest-this-year\"},\"wordCount\":477,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/tea-auction-prices-drop-to-lowest-this-year#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2021\/04\/unnamed-5.jpg\",\"keywords\":[\"EATTA\",\"Tea\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/kenya\/economy\/tea-auction-prices-drop-to-lowest-this-year#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/tea-auction-prices-drop-to-lowest-this-year\",\"url\":\"https:\/\/www.africa-press.net\/kenya\/economy\/tea-auction-prices-drop-to-lowest-this-year\",\"name\":\"Tea auction prices drop to lowest this year - 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