(Updates with volumes sold in third paragraph.)
Dec. 6 (Bloomberg) -- The benchmark price of tea in Malawi, Africa’s largest producer of the crop after Kenya, fell 6.3 percent at a sale today, according to Tea Brokers Central Africa, which manages the country’s tea auctions.
The top grade of tea, known as pekoe fannings, fetched $2.40 a kilogram (2.2 pounds) in the commercial capital, Blantyre, down from $2.56 a week earlier, Tea Brokers said in an e-mailed report today.
Sales of the leaf fetched $76,143 from 43,520 kilograms, compared with $142,139 from 88,080 kilograms at the previous sale on Nov. 29, Tea Brokers said.
Tea is Malawi’s second-largest foreign exchange earner, after tobacco, generating 8 percent of total export earnings. The U.K. is typically the largest buyer of tea from Malawi.
--Editors: Alastair Reed, Dan Weeks.
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