Kenya's average tea price down by a quarter in December

NAIROBI: The average price of Kenyan tea was down by a quarter in December to $2.46 per kg from the same month a year earlier, the industry regulator said on Thursday.

The Tea Board of Kenya said production of the crop, which is one of the country's top foreign exchange earners, edged up to 41.7 million kg from 41.4 million kg in December 2012.

The average price for a kg of tea during the calendar year 2013 dropped 20 percent to $2.53, mainly due to a higher supply and adverse conditions in some key markets that sapped demand, the tea board said.