Bloomberg News

Sasini of Kenya Advances to Five-Month High on Tea Outlook

June 04, 2012

Sasini Ltd. (STCL), Kenya’s largest coffee and tea producer by market value, rose to the highest in five months after the national weather service gave an improved forecast for tea production in the East African country.

The stock advanced 2.4 percent to 13 shillings by the close in Nairobi, the highest level since Jan. 3 and a fifth day of gains, according to data compiled by Bloomberg.

Kenya’s Meteorological Department said today abundant rains are boosting the prospects for a “good” crop in the western highlands and central Rift Valley. The south-eastern lowlands, parts of the central highlands and the coastal region have been affected by dry weather, threatening agricultural output, the Nairobi-based weather agency said.

The country is the world’s largest exporter of black tea. Most of the crop is produced around the Rift Valley, according to the Tea Board of Kenya.

To contact the reporter on this story: Eric Ombok in Nairobi at eombok@bloomberg.net.

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net


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