Highest price of top Kenya tea grade dips at latest sale

10 Jun, 2014

NAIROBI: The highest price for top-grade Kenyan tea dipped to $3.16 per kg at this week's auction from $3.28 per kg last week, Tea Brokers East Africa said on Tuesday.

Kenya is the world's leading exporter of black tea. The crop is a main source of foreign exchange for the east African economy, together with horticultural products and tourism.

Prices for Best Broken Pekoe Ones (BP1s) sold at $2.05-$3.16 per kg compared with $2.16-$3.28 per kg last week.

Best Brighter Pekoe Fanning Ones (PF1s) fetched $2.12-$2.61 per kg from $2.10-$2.54 per kg the last sale.

Tea Brokers said 23.01 percent of the 165,603 packages, or 10.55 million kg, remained unsold. Last week 12.08 percent of the 166,628 packages - or 10.68 million kg - on offer were left unsold.

Most of the tea offered at the Mombasa auction is from Kenya, but tea from Uganda, Tanzania, Rwanda, Burundi and other regional producers is also sold.

Copyright Reuters, 2014

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