Malawi Top Tea Price Falls 21% as Rain Boosts Supply
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The benchmark price of tea in Malawi, Africa’s largest producer of the crop after Kenya, fell 21 percent at auction as rain boosted supplies of the leaf.
The top grade of tea, known as pekoe fannings, fetched $1.95 a kilogram (2.2 pounds) at a sale in the commercial capital, Blantyre, on Feb. 1, compared with $2.47 a week earlier, Tea Brokers, which manages the country’s tea auctions, said in an e-mailed report today. Supplies at the sale jumped 26 percent to 289,880 kilograms, it said.