Kenya's February tea output up 109 pct yr/yr, exports fall

NAIROBI (Reuters) - Kenya's tea output jumped 109 percent to 38.5 million kg in February compared with the same period last year, due to favourable weather conditions, the regulatory tea board said on Wednesday.

Kenya, east Africa's largest economy, is the world's top exporter of black tea, which is a major source of foreign exchange, earning it 112 billion shillings last year.

But tea exports from east Africa's biggest economy fell to 42.9 million kg compared with 44.7 million in February 2012 on lower demand, the Tea Board said in a statement.

"Higher production compared to February last year was largely attributed to less severe hot and dry weather conditions coupled with incidences of light rainfall conditions in tea growing areas," Sicily Kariuki, the managing director at the tea board said in a report.

Kariuki said tea exports fell on lower demand.

During the month, 24.2 million kg of tea was sold through the country's weekly auction at the port of Mombasa, a rise from 20.8 million kg in the same period of 2012.

The average tea auction price climbed to $3.13 per kg from $2.95 in the year-ago period.

The higher prices were due to improved demand by most markets in anticipation of supply shortfall in the first quarter owing to dry and hot weather conditions.

Egypt was the biggest buyer of Kenyan tea in February, at 23 percent of total exports.

The country's top five export destinations are Pakistan, Britain, Afghanistan, Egypt and the United Arab Emirates -accounting for 75 percent of Kenya's total export volume.

Source: http://news.yahoo.com/kenyas-february-tea-output-109-pct-yr-yr-154738120--finance.html

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