Kenya top tea prices creep up at auction
28 May 2014, 11:12
Mombasa - The highest price for top-grade Kenyan tea edged up to $3.08 per kg at this week's auction from $3.06 per kg at last week's sale, Tea Brokers East Africa said on Wednesday.
Kenya is the world's leading exporter of black tea. The crop is a top foreign exchange earner for east Africa's largest economy, together with horticultural products and tourism.
Prices for Best Broken Pekoe Ones (BP1s) fetched $2.18-$3.08 per kg at the sale held on Monday and Tuesday, compared with $2.10-$3.06 per kg last week.
Best Brighter Pekoe Fanning Ones (PF1s) sold at $2.21-$2.72 per kg compared with $2.34-$2.76 per kg at the last sale.
Tea Brokers said demand was strong with only 12.98 percent of the 168,216 packages - or 10.88 million kgs - on offer were not sold.
The bulk of the tea offered at the Mombasa auction is from Kenya, but it also sells tea from Uganda, Tanzania, Rwanda, Burundi and other regional producers.