Kenya: Tea prices rise on hail damage

AFRICAN tea prices at the auction in Kenya, the biggest exporter of the black variety, rose to a more than two-year high last week and might climb further as hailstorms damaged the crop, the main trading organisation said. The average price had increased to $2.77 (R32.98) a kilogram at last week’s sale in the port city of Mombasa, the East African Tea Trade Association (EATTA) said. That’s the highest since March 2013. The auction is the largest for black tea leaves after the sale in Colombo. “There is every indication for an upward trend because of the low supply,” managing director Edward Mudibo said on Thursday. “The bush needs at least five weeks to heal before producing fresh leaves,” he said. – Bloomberg