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Published 23 Oct, 2008 12:00am

Kenyan tea prices mixed

NAIROBI, Oct 22: Kenyan tea prices were mixed at this week’s auction with top grades fetching higher prices, while some lots were withdrawn because of muted demand traders said on Wednesday.

Fair demand at easier rates for the 121,199 packages (7.88 million kg) on offer, which eased as the same progressed with some teas (17.64 per cent) withdrawn, Mombasa-based Africa Tea Brokers (ATB) said in its weekly market report.

Top BP1s were sold at between $3.88-$3.39 at the Tuesday auction, up from $3.44-$3.25 per kg last week. Best PF1s sold at $3.60-$2.40 compared with the previous auction’s $2.65-$2.35 per kg.

Pakistan Packers and Kazakhstan were the most active, ATB said while Egyptian Packers, Yemen and other middle east countries participated but at lower levels. The Egyptian Government Sector and Somalia were subdued, the report said.

Kenya is a leading exporter of black tea and the east African country has forecast that it will earn a record 50 billion shillings ($628.5 million) from the sector in 2008.—Reuters

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