NAIROBI: The average price of top grade tea from Kenya, the world's largest exporter of black tea, eased for the fourth successive weekly auction to $3.31 per kg from $3.43 per kg, brokers said on Wednesday.
Africa Tea Brokers (ATB) said in its weekly report that 109,555 (6.90 mln kg) packages were offered for sale, with some teas unsold, particularly among the poorer grades.
Best BP1s fetched $3.55-$3.07 per kg, compared with last week's $3.80-$3.05 per kg.
Best Pekoe Fanning Ones sold at $3.80-$3.40 per kg, compared with $3.69-$3.40 per kg last week.
Mombasa-based ATB said Pakistan Packers were strong and dominant buyers while Afghanistan and Britain were more active, as was Sudan but at lower levels. Iran was not operating while Somalia was active at the lower end of the market.
Tea exports earned Kenya a record $1.16 billion last year, making the sector the country's top foreign exchange earner.
Copyright Reuters, 2011
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