Kenyan tea prices ease at latest sale

Reuters
A worker picks tea at a plantation in Githunguri, 30 km (18 miles) from Kenya's capital Nairobi, January 6, 2012. REUTERS/Thomas Mukoya

NAIROBI (Reuters) - The average price of Kenya's top grade Broken Pekoe Ones tea eased to $3.90 per kg at this week's auction from $4.11 per kg last week, Africa Tea Brokers (ATB) said on Tuesday. Kenya is the world's top black tea exporter and tea is a leading foreign exchange earner in east Africa's largest economy. ATB said Best Broke Pekoe Ones sold at $3.70-$4.10 per kg, from $3.60-$4.62 per kg last week. Brighter Pekoe Fanning Ones (PF1s) fetched $2.18-$2.80 per kg, compared with $2.39-$2.95 per kg a week ago. ATB said 118,479 packages were offered for sale, with 29.4 percent of them remaining unsold. Last week, 117,808 packages were offered for sale, with 21.83 percent of them unsold. ATB said buyers from Yemen and Britain bought a similar amount of tea to last week, while buyers from Pakistan, Egypt and Afghanistan bought less.