Tea farmers in Nyamira County ( PHOTO: Sammy Omingo)High production and a global oversupply have pushed down the average tea prices for factories managed by Kenya Tea Development Agency (KTDA) to Sh239.78 ($2.22) in the nine months to March 2021, a 12 per cent drop. The average price dropped from Sh272.16 ($2.52) for a similar period in the previous financial year while tea production dropped by 8.6 per cent. KTDA data shows factories processed 218.9 million kilos of tea compared to 239.6 million kilos a year earlier. KTDA prices over the same period have however been 17 per cent higher than the average Mombasa auction price for all teas - at Sh205.2 ($1.90). Tea exports are made in USD and the weaker exchange rate will thus yield slightly more in Shillings.

Source: Standard Digital May 03, 2021 06:56 UTC