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COMMODITY NEWS<br />
TEA<br />
Kenya<br />
Top Tea Prices Creep Up At Auction<br />
The highest price for top-grade Kenyan tea edged up to US$3.08 per kg at the latest auction from US$3.06 per kg at the<br />
previous sale noted Tea Brokers East Africa. Kenya is the world’s leading exporter of black tea. The crop is a top foreign<br />
exchange earner for Kenya. The bulk of the tea offered at the Mombasa auction is from Kenya, but it also sells tea from Uganda,<br />
Tanzania, Rwanda, Burundi and other regional producers.<br />
[Reuters 28/05/14]<br />
Auction 27th May 20th May 13th May 6th May<br />
Best Broken Pekoe<br />
Ones [BP1s] TEABP1-<br />
BEST-KE<br />
$2.18-3.08 / kg $2.10-3.06 / kg US$2.10-2.90 / kg US$2.15-3.04 / kg<br />
Best Brighter Pekoe<br />
Fanning Ones [PF1s]<br />
TEAPF1-BEST-KE<br />
Not Sold 12.98% of 168,216<br />
packages / 10.88<br />
million kgs - on offer<br />
$2.21-2.72 / kg $2.34-2.76 / kg US$2.22-2.62 / kg US$2.18-2.72 / kg<br />
15.69% of 168,780<br />
packages / 10.92<br />
million kgs on offer<br />
13.38 % of 164,212<br />
packages / 10.55<br />
million kgs on offer<br />
13.8% of 138,901<br />
packages on offer<br />
Tea Gets Major Boost In EU Market<br />
Kenyan tea is set for a major boost in the European market if an initiative by a Dutch imports agency is implemented. This follows<br />
efforts by the Centre for Promotion of Imports [CBI] from developing countries, an arm of the Ministry of Foreign Affairs of The<br />
Netherlands, to improve skills of Kenyan agricultural agencies and stakeholders in the tea sector.<br />
The CBI event has for the first time brought together Kenyan tea growers and exporters for a 3-day training workshop in The<br />
Hague, aimed at marketing branded Kenyan tea in the European Union. Kenyan participants attending included the Tea Research<br />
Foundation of Kenya, Tea Board of Kenya, Ministry of Agriculture and Kenya Tea Packers. Purple cloned tea offers a good<br />
opportunity to develop a wide range of products for the EU market requirements.<br />
[Standard Digital 23/05/14]<br />
Tea Firms Look for Markets<br />
Tea companies in Nandi are looking for a direct market abroad following the decline of prices. The companies have traditionally<br />
been selling their Black Tea through the Mombasa Auction under the control of leading brokerage firms and dominated by Kenya<br />
Tea Development Agency [KTDA].<br />
Tea companies have been trading accusations over the poor tea prices, with a number of multi-national firms blaming KTDA for<br />
flooded the market with their products after hoarding a huge stock for speculation purposes. The crop production has increased<br />
by 30% nationally due to good rains leading to oversupply. Meanwhile the market for black tea had seriously fallen due to political<br />
instabilities in some of their key markets - Egypt, Pakistan, Afghanistan, Yemen and Syria.<br />
[The Star 06/05/14]<br />
KTDA Urges State to Supply Cheap Fertiliser<br />
The Kenya Tea Development Authority [KTDA] has urged the government to supply tea farmers with subsidized fertiliser noting<br />
the current price of Sh2,300 / 50kg bag was too expensive. The authority has procured 60,000 MT of fertiliser, which is normally<br />
given as credit to farmers and later deducted from the tea bonus in November.<br />
[The Star 29/04/14]<br />
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