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April 5, 2006
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Wednesday
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Rabi-ul-Awwal 6, 1427
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Kenya tea prices rise
NAIROBI, April 4: Kenya tea prices rose at this week’s auction due to low supply and a threatened strike by a tea union, dealers said. We are still operating below 77,000 packages but we were expecting to be operating at 100,000 packages, a dealer said.
Kenya has been ravaged by one of east Africa’s worst droughts.
Recent rains have renewed buyers’ hopes for increased quantities at auction, but dealers said the crop had not materialised yet.
Nineteen Kenya tea union officials have been arrested and charged with urging thousands of tea farmers to boycott tea-picking in a move the government called illegal.
A total of 64,700 packages were offered at the weekly auction down from 69,477 at the previous auction, African Tea Brokers said.
Lipton, the Egyptian Packer sector and the Egyptian government were the most active, a dealer said.
Brighter Best Pekoe Ones (BP1s) sold at $2.16-$2.36 per kg from $2.12-$2.49 at last week’s auction while Brighter Pekoe Fanning Ones (PF1s) changed hands at $2.02-$2.70 from $1.95-$2.44 at the last sale.—Reuters #
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