Prices of Kenyan top tea grades were mixed at this week's auction following quality, market players said on Wednesday.
According to the Mombassa-based Africa Tea Brokers (ATB), 133,023 packages were offered at the sale held on Monday and Tuesday, which it said was the largest auction offering in the recent past. A total 16,637 package was unsold. "Demand was strong with realised prices being mostly firm, better types dearer while other sorts declined due to inferior quality," a market report by James Finally, a packer, said.
The ATB said Pakistan Packers, Afghanistan and Egypt Packers bought well. Best BP1s sold at $2.10-$2.83 per kg at this week's auction, compared with $2.08-$2.89 per kg at last week's sale. Best PF1s sold easier at $1.64-$2.30 per kg compared with $1.67-$2.53 per kg last week.
Prices in the past few weeks have been under pressure due to the large volumes offered for sale compared with the same period last year when there was a severe drought. At the previous auction, 123,648 packages were offered for sale, with 13,400 unsold. James Finally said production in the past week fell because growing areas in both east and west of the Rift had experienced dry weather and higher temperatures except for a few parts that had slight showers.
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