Higher moisture is good for the production of worm tea, but an excess of anything is damaging. You can reduce moisture by adding materials that bind moisture, such as paper towels, newspaper, egg crates and similar dry material.
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If you're looking to get started with Worm Composting, please Wiggle on over to https://www.wigglywigglers.co.uk/wormeries.html and take a look at our Urbalive Worm Composters.