Tea prices drop at Mombasa auction

Tea prices at Mombasa auction, the world’s largest black tea auction, eased at this week’s sale on a slight drop in demand despite continued decrease in the volumes offered. The prices dropped by 2.9 per cent to $3.03 (Sh304.21) per kilogram this week, down from $3.12 (Sh313.25) per kg in last week’s auction.

Despite the marginal drop, the prices were still better compared to same period last year when the leaf traded at an average $2.11 (Sh212) per kg calculated on the current exchange rate of 100.50 to a dollar.