Malawi Tea Price Falls 6.8% Before Start of New Crop
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The benchmark price of tea in Malawi, Africa’s largest producer of the crop after Kenya, fell 6.8 percent at an auction today as demand waned ahead of the start of a new crop, according to Van Rees BV, a tea trading unit of Netherlands-based NIBC Principal Investments.
The top grade of tea, known as pekoe fannings, fetched $2.20 a kilogram (2.2 pounds) at the sale in the commercial capital, Blantyre, down from $2.36 at the previous sale two weeks ago, the tea trader said in an e-mailed report today.