Stock exchange shows drop of tea price to minimal point for the last 12 months. Crisis in Egypt has resulted in the drop of tea quotations by one third. Egypt is the fifth largest importer of tea leaf. This year production of this culture has risen after several harvestless years.
Last week the price for Kenyan tea leaf of average quality has dropped to 2.64 dollars per kilogram, which is 34 percent less than last year. If crisis in Egypt gets worse, prices will continue falling.
Kenya is the largest exporter of black tea; it is followed by Sri Lanka and India. Export of the product is very important for Kenya, as sale of tea is the major source of freely convertible currency, as informed by “Stock Exchange” section of the “Market Leader”. Similar situation is found in Malawi, Uganda, and Tanzania.
During the period of January-May Kenya has gathered the largest yield of tea leaf since 2003 – 194.9 thousand tons. This figure has risen by 52 percent in comparison to equal period of 2012.
According to the experts of “Forex Trend” (“Forex Trend”, leader of Masterforex-V Academy rating of forex brokers ), the price drop will touch low and average grades in the first rate. High grades will remain at the high price level.
