20 December 2012

Kenya: Top Tea Grade Price Falls At Mombasa Auction

The average price of Kenya's top tea grade fell for the first time in six weeks at auction to $4.36 per kilo from $4.42 at the previous sale, brokers said yesterday.

The East African producer is the world's leading exporter of black tea, which is also a leading hard currency earner, raking in $1.27 billion last year.

Africa Tea Brokers said Best Broken Pekoe Ones fetched $4.05-$4.66 per kilo, up from $4.02-$4.82 per kilo attained at last week's auction.

Best Pekoe Fanning Ones sold for $3.70-$3.90 per kilo, compared with $3.76-$4.00 per kilo, ATB said in a regular market report. ATB said 129,980 packages were offered for sale, with 8.43 percent going unsold. Last week, 129,079 packages were offered with 15 percent going unsold.

The main buyers during the auction were from Egypt, Pakistan, Sudan and Kazakhstan, ATB said. It said that the auction will go on break for Christmas and New Year holidays and will resume on January 2.

Copyright © 2012 The Star. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 2,000 reports a day from more than 130 news organizations and over 200 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.