Daily Monitor
Wednesday March 03 2021
Summary
Tea prices, according to details from the East Africa Tea Traders Association, inched closer to a two-dollar mark, recovering from a decline which the commodity had registered during auctions in mid January.
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Uganda and other East African member states sell their tea through the Mombasa Auction.
Tea prices had declined at the end of January but the recovery is expected to impact Uganda’s export receipts, which have been growing for at least six months now.
Tea prices, according to details from East Africa Tea Traders Association, inched closer to a two-dollar mark in the weekly auction with a kilogramme selling at Shs7,378 from Shs7,310.
Tea price stays high despite UK lockdown
Tuesday January 19 2021
By GERALD ANDAE
Summary
Tea prices at the Mombasa auction remained at a four-month high last week, even as concerns emerge that a new UK lockdown will pull them down in the short-term.
A market report shows a kilogramme of the beverage on average fetched Sh211 in the second sale of the year, which is the same value that it attracted in the opening trading of 2021.
Tea prices at the Mombasa auction remained at a four-month high last week, even as concerns emerge that a new UK lockdown will pull them down in the short-term.
By Dan Bolton
In early December, Kenya s National Assembly passed the Tea Act of 2020, advancing sweeping reforms in the tea sector. The decision reestablishes the Tea Board of Kenya (TBK) and the Tea Research Foundation (TRF), two institutions dissolved in 2014 in favor of an Agriculture Fisheries and Foods Authority that managed eight sectors including coffee, tea, coconut, cotton, sisal, sugar, and pyrethrum.
Agriculture Cabinet Secretary Peter Munya, at the direction of President Uhuru Kenyatta, has for months pressed for a slate of reforms returning sector control in both tea and coffee.
The Tea Act, which was approved on Dec. 1, and the Coffee Act both institute direct settlement schemes (DSS) that require payment to farmers directly after the sale of their tea and coffee. Tea brokers, buyers, and the tea auction in Mombasa must remit sales within 14 days, and tea factories are required to pay 50% of sales direct to farmers. Tea farmers also earn an end-of-harvest-year bonus