Tea prices at the weekly Mombasa auction increased slightly last week even as volumes traded remained steady.
At the auction, a kilo averaged USD2.21(Sh263.99) up from USD2.20(Sh262.79) in the previous auction.
The East African Tea Trade Association(EATTA) noted there was improved demand in some categories which also showed dearer tendencies while others were irregular following quality for the 189,737 packages (12,357,819.00 kilos) available for sale.
Traders sold 125,040 packages (8,218,263 Kilos) during the week with 34.10 per cent of packages remaining unsold. At the auction, the total volume traded was 32,143 kilos less than the previous one.
There was more and useful interest from Pakistan Packers, Bazaar, Yemen, and other Middle Eastern countries while Egyptian Packers lent good support but at lower levels.
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EATTA notes UK and Sudan maintained activity with improved enquiry from Afghanistan while Kazakhstan and other CIS states reduced participation. “Local packers maintained activity with Russia and Iran quiet. Somalia were active at the lower end of the market,” it said.
SOURCE: Capital business
