African tea prices near record highs
The prices of top grade African tea are nearing record highs, as they shot up more than 7% at this week's auctions in Mombassa. Tea sold for as much as $3.09 a kilogram, compared with $2.88 last week. The record stands at $3.12 a kilogram reached last year. The rise is attributed to unfavorable weather damaging crops. Experts fear that a gradual rebound in output will still not be able to keep up with even quicker demand growth from around the world.