April 10, 2013 / 1:15 PM / 4 years ago

Kenya tea prices ease at latest auction

2 Min Read

NAIROBI, April 10 (Reuters) - The average price of Kenya's
top grade Broken Pekoe Ones tea fell slightly to $3.40 per kg at
auction from $3.50 at the previous sale, market participants
said on Wednesday.
    The east African economy is the world's leading exporter of
black tea, which is a major source of foreign exchange, fetching
112 billion shillings ($1.3 billion) last year.
    Grade Best Broken Pekoe Ones (BP1) TEABP1-BEST-KE sold at
$3.80-$3.00 per kg at the auction, down from $4.20-$2.80 per kg
at the last sale on March 25 and 26, Africa Tea Brokers (ATB)
said in a market report.
    Best Pekoe Fanning Ones (PF1) TEAPF1-BEST-KE sold for
$3.16-$2.65 per kg from $3.18-$2.84 per kg previously.
    ATB said 146,155 packages were offered for sale, with 21.8
percent of it left unsold. At the previous sale, 128,159
packages (8.3 million kgs) of tea were offered for sale at the
auction and 14.5 percent went unsold.
    ATB said Yemen and other Middle Eastern countries, Egyptian
Packers, Sudan, Kazakhstan and Russia bought more tea than they
did last week.

 (Reporting by George Obulutsa; editing by Jane Baird)

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