Top Kenya tea price falls in latest auction - CNBC Africa

Top Kenya tea price falls in latest auction

East Africa

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Tea pickers. PHOTO: Getty Images

This was down from the highest price of 4.32 US dollars secured a week earlier, Tea Brokers East Africa reported on Wednesday.

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

Prices for Best Broke Pekoe Ones (BP1s) TEABP1-BEST-KE sold at 3.54 US dollars - 4.06 US dollars per kg compared to last week's 3.70 US dollars - 4.32 US dollars, Tea Brokers East Africa said in its report.

Best Brighter Pekoe Fanning Ones (PF1s) TEAPF1-BEST-KE sold at 2.50 US dollars - 3.18 US dollars per kg compared to 2.80 US dollars - 3.07 US dollars at the previous auction, the report said.

It said 23 per cent of the 128,878 packages offered were left unsold. Last week 136,808 packages were offered with 20.03 percent unsold.

Buyers from United Kingdom lent support, while Middle Eastern countries and Somalia were active, the report said.

However, there was lower demand from Pakistan, Egypt, Afghanistan, Kazakhstan and Russia.

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