Top price of Kenya's best grade tea steady at latest auction

NAIROBI: The maximum price of the top grade Kenyan tea held steady at$3.40 at this week's auction, Africa Tea Brokers (ATB) said on Thursday. Kenya is the world's leading exporter of black tea and the crop is a major source of foreign exchange.

The east African country holds its weekly sale at the port of Mombasa.

Best Broken Pekoe Ones (BP1s) fetched $2.10-$3.40 compared with $2.00-$3.40 per kg at last week's sale, ATB said in its weekly market report.

Best Brighter Pekoe Fanning Ones (PF1s) sold at $2.40-$2.84 compared with $2.42-$2.80 per kg last week.

Producers offered 9.57 million kg of tea during the sale and 15.86 percent did not get buyers, ATB said.