Price of top-grade Kenya tea up at latest auction
Michael Chen
Senior Web Developer
The maximum price of Kenya's top-grade tea rose to $3.82 per kg at auction on Tuesday from $3.51 last week, Africa Tea Brokers said.
Best Broken Pekoe Ones (BP1s) fetched $2.21-3.82 per kg, compared with $2.20-3.51 last week, ATB said in its market report.
Kenya is the world's leading exporter of black tea and the crop is a leading foreign exchange earner for the economy, alongside horticulture and tourism.
Best Brighter Pekoe Fanning Ones (PF1s) sold at $2.42-2.78 per kg, up from $2.34-2.70 last week.
Most of the tea offered at the weekly Mombasa auction is from Kenya, but tea from Uganda, Tanzania, Rwanda, Burundi and other regional producers is also sold.
ATB said buyers from Pakistan, Egypt, the United Kingdom and Kazakhstan bought more tea than last week.
Source: af.reuters.com/article/investingNews/idAFKBN0HC0J420140917
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