Wednesday, January 20, 2010

Kenyan tea prices ease slightly, volumes up

NAIROBI (Reuters) - The price of top Kenyan Broken Pekoe Ones (BP1s) eased to an average $4.20 per kg from $4.44 per kg last week, brokers said on Wednesday.





Best BP1s sold at between $4.55 and $3.85 per kg at the weekly auction in Mombasa, compared with $4.72 and $4.16 per kg last week, Africa Tea Brokers (ATB) said in their market report.



BP1 prices set a record of an average $5.45 per kg in mid December.



"There was fairly good demand for the 137,105 packages... on offer at easier rates with some teas remaining unsold," ATB said.



Brighter Pekoe Fanning Ones (PF1s) sold at between $3.28 and $2.96 per kg compared with $3.47 and $3.18 per kg at the last sale.



Kenya is the leading exporter of black tea globally. Prices hit record highs last year after a long spell of dry weather reduced supply.



ATB said 21,580 of the packages offered remained unsold. Last week 115,308 packages were offered, with 18,577 unsold.



Yemen, other Middle Eastern countries and Afghanistan bought more tea than last week, as did Pakistan Packers and Sudan, ATB said.



United Kingdom and the Egyptian Government Sector bought less tea than last week while Egyptian Packers, Kazakhstan and Russia bought similar amounts as last week, ATB added.


Source:af.reuters.com/

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