Tea Price Recovery from January’s plunge

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The tea prices at the Mombasa auction recovered for the third time consecutively to end a season of poor prices recorded in mid-January.

The data derived from the East Africa Tea Traders Association (EATTA) shows that the price of tea shot from Sh212 last week to Sh215 in this week’s sale.

The price of the beverage at the auction had begun on a high note in the first sale in January before the price dwindled in the sales thereafter.

The improvement in value on Tuesday led to a decrease in withdrawals on the tea quantities that were on sales offer in the course of the trading.

“Sale 06 average price increased to Sh215 ($1.96) when compared to Sale 05 Sh212 ($1.93),” said a market report from East Africa Tea Traders Association.

During the latest auction, the withdraws recorded were 11 percent, a contrast to last week’s 14 percent.

“Out of 13.9 million kilos available for sale, 12.3 million kilos were sold with 11 percent remaining unsold,” said EATTA.

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Anthony Kiratu is the Founder of Finsolutions. He is a financial analyst with over 5 years experience in research, investment advisory, valuation and financial modelling. Anthony is a member of the Institute of Certified Investment and Financial Analysts and Institute of Certified Public Accountants of Kenya. He is passionate about development of African Capital Markets through training of investors and dissemination of information for sound financial and investment decision making process. He is also a part-time lecturer in the Certified Investment and Financial Analyst course in the subjects of International Finance, Portfolio Management, Equity Investment Analysis, and Fixed Income Securities. Email: anthony@finsolutions.co.ke Contact: +254 780216631

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