TEA prices fell at the east African weekly auction in Mombassa as a result of a glut in the market, dealers said on Tuesday. “The current glut is effectively hurting prices,” a broker said. Monday’s quoted prices were on average lower by between two and three US cents a kilo, according to a market report released by the Africa Tea Brokers. Grade one Best Pekoes sold at between $1,80 and $1,87 per kilogram, while grade one Pekoe Fannings fetched between $1,66 and $1,76 dollars a kilo. However, best grade Dusts fetched higher prices compared to last week, with a kilogram selling at between $2,05 and $2,42, against $2,03 and $2,37 dollars last week. – AFP
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