Tea prices rise with demand
14 August 2013, 14:02
Nairobi - The average price of Kenya's top grade Broken Pekoe Ones tea rose to $4.06 per kg at this week's sale from $3.58 at the last auction, trader Africa Tea Brokers (ATB) said on Wednesday.
Kenya is the world's top black tea exporter and the crop is a Kenya's key foreign exchange earner.
ATB said there was strong demand from Egypt, the biggest buyer of Kenyan tea, after the country recovered from a slump following the aftermath of President Mohamed Morsi's removal from office on July 3.
There was also heavy demand at the auction from Kazakhstan and Russia buyers.
ATB said Best BP1s sold at $3.80-$4.32 per kg compared with $3.12-$4.04 per kg at the previous sale.
Brighter Pekoe Fanning Ones (PF1s) fetched $2.40-$2.98 per kg, down from $2.53-$3.06 last week.
There were 119,955 packages on sale, with 20.3 percent left unsold. At the last sale, 124,032 packages were offered for sale, with 15.3 percent remaining unsold.
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