NAIROBI, May 17: Prices of Kenyan tea were mixed at this week’s auction, with most grades pulled down by an increase in supply, brokers said on Wednesday.

There was good demand for the 117,880 packages on offer at irregularly easier rates, a statement by African Tea Brokers said.

Apart from a few improved lines, many brighter Best Pekoes Ones (BP1s) declined by 2-5 US cents. Brighter Pekoes Fannings Ones (PF1s) were mixed, with some lines losing 3-12 cents although there was good interest for them, the ATB report said.

Top and bottom BP1 prices stood at $2.10-$2.58 per kg from last week’s $2.12-$2.51 at the auction held on Tuesday.

Better PF1s recovered and moved dearer because we got Pakistani and Afghan interest, one exporter said.

BP1s sold well with a few easing towards the close because of mixed demand from Russia.

The top price for PF1s rose to $2.57 per kg compared with $2.49 at the previous sale. The bottom PF1 price dropped to $2.07 from $2.19 last week.

The ATB report said Egyptian Packers lent very good support while the UK was active but selective.

The exporter said 125,000 packages would be offered at the next auction.—Reuters