The average price of Kenya’s top grade Broken Pekoe Ones tea rose to $3.43 per kg at auction from $3.38 at the previous sale, leading trader Africa Tea Brokers (ATB) said on Tuesday.
The east African economy is the world’s leading exporter of black tea, which is a major source of foreign exchange, earning 112 billion shillings last year.
Grade Best Broken Pekoe Ones (BP1) sold at $3.00-$3.86 per kg at the auction, compared to $2.80-$3.96 at the previous sale, ATB said.
Best Pekoe Fanning Ones (PF1) sold for $260-$316, compared to $2.58-$3.18.
ATB said there was better demand for the 150,771 packages on sale, with 14.86 percent left unsold.
At the last sale, 19.8 percent of the 140,689 packages offered were not sold.
ATB said Afghanistan lent strong support while Yemen and other Middle Eastern countries were quite active.
There was more interest from Pakistan Packers, Bazaar, UK, Kazakhstan (CIS), Russia and Sudan.
Egyptian packers showed some enquiry with Iran also operating in the market, ATB said, adding that Somalia was more active.
wirestory
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