In order to increase its capacity to manage all tea produced in the country, Mombasa Tea Auction will begin operating five days a week.
Following the enactment of auction legislation as stipulated in the Tea Act 2020, the number of trading days will be increased.
The new selling scheme, which was funded by the Danish International Development Agency and the Trade Mark East Africa (TMEA) at a cost of Ksh 217 million, would enable players to run it from their homes and offices.
Agriculture CS Peter Munya in a statement said that absorption of tea on offer should be enhanced since the system should be able to automatically re-list the tea for sale the same day of auction, saying this coupled with anonymous bidding, should enhance price discovery mechanism for the tea at sale.
The Mombasa Tea Auction is owned and run by value chain players. The Kenya Tea Development Authority (KTDA), is the most dominant of the players.
