Prices for top quality Kenyan teas softened at this week's auction due to diminished buying from Afghanistan and Russia and ample supply driven by heavy seasonal rainfall, traders said on Wednesday.
Mediums to lower qualities were generally steady, propped up by strong interest from Egyptian buyers.
The price slide among good qualities continued a pattern seen last week when a jump in supply on the back of high rainfall produced the biggest total volume on offer at the auction for more than a year. "The market was well supported at the bottom end due to the strong enquiry from Egypt, which was the main feature," said an official at Africa Tea Brokers in Mombassa.
He said more than 115,201 packages, or 7.54 million kg, had been sold at this week's auction, out of 118,841 packages on offer, compared to sales of 130,289 packages or 8.46 million kg sold last week.
There will be 112,398 packages, or about 7.36 million-kg, on offer at next week's auction.
Medium to lower qualities drew steady demand from Pakistan, Afghanistan, Sudan, Somalia, Yemen and other Middle East countries, Russia and Eastern Europe.