Rwanda tea prices rise at regional market
Written by: Administrator
Wednesday, April 18th, 2018, 8:46
Regional tea exports at the Mombasa Auction have increased, according to the East African Tea Export Auctions report released last week.
All the five East Africa member states including Kenya, Uganda, Rwanda, Burundi, Tanzania and Mozambique registered an increase in exports at the Tea Auction held between April 9 and April 10.
The increase, the report says, was occasioned by growth in demand and a rise in crop production.
According to the report more than 7.4 million bags were sold up from 6.4 million bags sold around the same time last year. This indicates an increase of 8.2 per cent.
For Rwanda, 129,007 bags (8,426,139Kgs) were offered as compared to 117,718 bags (7,672,856Kgs) for the same period last. The average auction price during this auction was $3.04.
The five East African member states including Mozambique participated in the auction out of the 10 countries listed at the auction.
The other countries, including DR Congo, Malawi, Madagascar and Ethiopia registered no trade.
George William Ssekitooleko, the Uganda Tea Association executive secretary, said last week the rains have facilitated growth in crop yield across the region.
Rwanda, the region’s third largest tea exporter realized the highest prices for BP1 and PF1 grades (BP1 $ 3.98 Nyabihu and PF1 $ 3.64 Kitabi) while Kenya teas got highest price for PD and D1.
Rwandan tea expansion and construction of 4 new tea factories from 11 to 15 are key to these results. From January to December last 2017, the country registered 26,242,709Kgs exported tea which fetched USD84,265,962 from international markets.