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Highest price of top Kenya tea grade dips at latest sale

NEWS
By Reuters | June 11th 2014
By Reuters | June 11th 2014
NEWS

NAIROBI, Kenya: The highest price for top-grade Kenyan tea dipped to USD3.16 per kg at this week's auction from
USD3.28 per kg last week, Tea Brokers East Africa said on Tuesday.

Kenya is the world's leading exporter of black tea. The crop is a main source of foreign exchange for the east African economy, together with horticultural products and tourism.

Mombasa, Kenya: Prices for Best Broken Pekoe Ones (BP1s) <TEABP1-BEST-KE>sold at USD2.05-USD3.16 per kg compared with USD2.16-USD3.28 per kg last week.

Best Brighter Pekoe Fanning Ones (PF1s) <TEAPF1-BEST-KE>fetched USD2.12-USD2.61 per kg from USD2.10-USD2.54 per kg the last sale.

Tea Brokers said 23.01 percent of the 165,603 packages, or 10.55 million kg, remained unsold. Last week 12.08 percent of the 166,628 packages - or 10.68 million kg - on offer were left unsold.

Most of the tea offered at the Mombasa auction is from Kenya, but tea from Uganda, Tanzania, Rwanda, Burundi and other regional producers is also sold.

- Reuters

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