September 20, 2011 / 4:08 PM / in 8 years

Kenya tea prices slide at latest sale

NAIROBI, Sept 20 (Reuters) - The average price for top grade Kenyan tea in the world’s largest exporter of black tea slid to $3.22 per kg at this week’s auction from $3.39 previously, brokers said on Tuesday.

Mombasa-based Africa Tea Brokers (ATB) said Pakistan Packers were the dominant buyers, while UK lent strong support and there was improved buying by Egyptian Packers, Kazakhstan (CIS), Russia and Afghanistan.

Tea is a key export for the east African country, which fetched a record $1.16 billion last year, making the sector Kenya’s top foreign exchange earner.

ATB said in its weekly report there was improved demand for 108,647 packages on offer, but 17.26 percent was left unsold.

Last week, 102,991 packages were offered, with 27,734 packages left unsold.

Best BP1s TEABP1-BEST-KE fetched $3.60-$2.85 per kg compared with $3.88-$2.90 per kg last week.

Best Pekoe Fanning Ones TEAPF1-BEST-KE sold at $3.82-$3.50 per kg from $3.68-$3.45 per at the last sale. (Reporting by Beatrice Gachenge; Editing by James Macharia)

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