NAIROBI: The average price of Kenyan top grade tea rose to $3.92 per kg at auction this week from $3.88 per kg last week, market participants said on Tuesday.
The east African nation is the world's biggest exporter of black tea and the crop is one of its largest foreign exchange earners, raking in $1.27 billion last year.
Africa Tea Brokers (ATB) said in a market report that Best Broken Pekoe Ones sold at $4.04-$3.80 per kg, up from $4.06-$3.70 per kg at the previous sale.
Best Pekoe Fanning Ones fetched $3.92-$3.64 per kg from $3.92-$3.72 last week, ATB said.
It said 93,992 packages were offered with 15.3 percent left unsold. Last week 105,949 packages were offered, with 24.4 percent left unsold.
The report said that among buyers, Pakistan Packers, Sudan and Kazakhstan (CIS) lent strong support and Russia was active. Egyptian Packers and the UK showed less interest.
Regulator Tea Board of Kenya has forecast production to pick up starting this quarter, after a 14 percent year-on-year fall in output for the first three months of the year due to heavy rains.
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