Kenya tea prices fall at latest auction
26 February 2014, 12:15
Mombasa - The highest price for top Kenyan tea fell to $3.95 per kg at this week's auction from $4.00 per kg last week, Africa Tea Brokers (ATB) said on Wednesday.
Kenya is the world's leading exporter of black tea and the crop is a major foreign exchange earner for east Africa's largest economy, together with horticulture and tourism.
Prices for Best Broke Pekoe Ones (BP1s) sold at $2.80-$3.95 per kg compared with $2.94-$4.00 per kg last week, ATB said.
Best Brighter Pekoe Fanning Ones (PF1s) fetched $2.40-3.00 per kg from $2.34-$3.30 per kg, ATB said.
It said 12.34 percent of the 145 870 packages weighing 9.3 million kg offered were left unsold. Last week, 14.82 percent of the 143 489 packages weighing 9.2 million kg offered were left unsold.
Demand was highest from buyers from Pakistan, while Egyptian, Yemen and UK also lent support.
Most of the tea sold at the Mombasa auction is from Kenya, but it also offers tea from Uganda, Tanzania, Rwanda, Burundi and other regional producers.