March 19, 2014 / 11:44 AM / 6 years ago

Kenya tea prices dip at latest sale

NAIROBI, March 19 (Reuters) - The highest price for top grade Kenyan tea fell to $3.50 per kg at this week’s sale from $3.60 per kg last week, Africa Tea Brokers (ATB) said on Wednesday.

Prices for Best Broken Pekoe Ones (BP1s) TEABP1-BEST-KE fetched $250-$350 per kg compared with $264-$360 per kg last week, ATB said.

Best Brighter Pekoe Fanning Ones (PF1s) TEAPF1-BEST-KE sold at $230-$275 from $2.22-$2.95 per kg at the last sale.

ATB said 13.97 percent of the 134,237 packages, or 8.6 million kg, of tea offered was left unsold. Last week 17.72 percent of the 132,739 packages weighing 8.55 million kg offered were left unsold.

Kenya is the leading world exporter of black tea and the crop is a major foreign exchange earner for east Africa’s largest economy, together with horticulture and tourism.

Demand was strongest from Pakistan while Afghanistan, Bazaar, Kazakhstan and Egypt were more active in the market than last week.

Most of the tea auctioned at the Mombasa auction is from Kenya, but it also offers tea from Uganda, Tanzania, Rwanda, Burundi and other regional producers. (Reporting by Drazen Jorgic; Editing by Richard Lough)

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