Bloomberg News

Malawi’s Benchmark Tea Price Falls 6.3% at Sale in Blantyre

December 06, 2011

(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.

To contact the reporter on this story: Frank Jomo in Blantyre at fjomo@bloomberg.net

To contact the editor responsible for this story: Gordon Bell at gbell16@bloomberg.net


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