BUSINESS IN BRIEF : Rwanda tea prices on the auction market rise

Average tea prices from Rwandan tea firms climbed slightly by Rwf23 to $3.16 (Rwf1,782) last week from $3.12 (Rwf1,759) in the previous week on the weekly Mombasa auction market on account of high demand created by limited tea supplies from African countries.

Average tea prices from Rwandan tea firms climbed slightly by Rwf23 to $3.16 (Rwf1,782) last week from $3.12 (Rwf1,759) in the previous week on the weekly Mombasa auction market on account of high demand created by limited tea supplies from African countries.

Rwanda Tea Authority (Ocir-Thé), predicts that tea prices will remain stable for the next two or three months. 

On the basis of quantity, the volume of tea offered for sell by Rwanda increased by 22.9 percent or 25,687 kilograms to 137,745 kilograms last week from 112,058 kilograms offered in the previous week.

The Mombasa tea auction market, which hosts the sell of teas from all African countries, always trades on Mondays and Tuesdays every week.

In general, tea prices at the auction market have been steadily rising on account of low harvests but experts predict prices will dip as the long drought ends.

The management said that Egypt, Pakistan and Afghanistan are the leading countries that bought large quantities of tea that was offered by the tea authority last week. 

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