MOMBASA, July 15: Kenyan tea prices edged lower for a second week on Monday amid a fall in demand as key buyers from Egypt, who are holding comfortable stocks, stayed on the sidelines, traders said.

“There was less demand because Egypt, which is normally the major buyer in the auction was not that much active,” said Norman Wilson, managing director of leading traders Africa Tea Brokers.

“The type of tea that Egypt buys dropped in price quite significantly,” Wilson said. “Egypt is out because they have tea for the moment and they are holding for one or two weeks before buying again,” said George Waireri, the managing director of StanStand Africa tea traders.

Pakistan and buyers from Britain were very active, traders said.

Prices for Best Pekoes Dust, which is favoured by the Egyptian market, slipped to between $1.74-$1.79 per kg from $1.77-$1.81 per kg last week. But prices for Best Broken Pekoes (BP1s) were steady at between $1.95-$2 per kg compared to $1.94-$1.99 per kg.—Reuters