Tea price steadies, volumes up
23 November 2011, 17:05
Nairobi - The average price for top grade tea at Kenya's weekly auction on Tuesday rose slightly to $2.95 per kg from $2.90 per kg last week, while the amount on offer rose, brokers said.
Mombasa-based Africa Tea Brokers (ATB) said 127,349 packages were offered for sale, with 16,640 left unsold. Last week, 116,973 packages were offered with 16,847 remaining unsold.
Tea is a major export for the east African country, and is expected to fetch a record 106 billion shillings ($1.1 billion)in 2011, up from 97 billion shillings last year.
ATB said Best BP1s TEABP1-BEST-KE fetched $3.50-$2.40 per kg from $3.40-$2.40 last week. Best Pekoe Fanning Ones TEAPF1-BEST-KE sold at $3.88-$3.18 per kg compared with $3.82-$3.16 previously.
ATB said Afghanistan, the United Kingdom, the Pakistan Bazaar and Kazakhstan bought more tea than last week, as did Russia.
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