Sasini of Kenya Rises, Longest Winning Streak in 5 Months
Sasini Ltd. (STCL), a Kenyan tea and coffee grower, rose for a third straight day, its longest winning streak since September, as leaf prices are seen to be increasing.
The stock added as much as 4.2 percent to 11.30 shillings by 12:28 p.m. in Nairobi, the capital.
Tea prices in Kenya, the world’s biggest exporter of black tea, are set to rise as frost and drought in the main growing areas have cut production by as much as half, the Africa Tea Brokers said yesterday.
Output is badly affected in the Rift Valley, which produces 60 percent of Kenya’s tea, Africa Tea Brokers Managing Director Tom Muchura said.
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