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Top grade tea prices drop at the latest sale

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The average price of Kenya's top grade tea fell to $3.50 per kilo at this week's auction from $4.01 per kilo at the previous sale, market participants said. Kenya is the world's leading exporter of black tea, which is a major source of foreign exchange, earning it Sh112 billion last year. Grade Best Broken Pekoe Ones fetched $4.20-$2.80 per kilo at the auction, down from $5.02-$3.00 per kilo at last week's sale, Africa Tea Brokers said in a market report. Best Pekoe Fanning Ones sold for $3.18-$2.84 per kilo, down from $3.48-$2.95 per kilo at last week's sale...

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