(1888PressRelease)
February 21, 2008 - Interruptions to production in Kenya will prompt tea prices to hit record levels this year, the United Nations' Food and Agriculture Organisation (FAO) has forecast.
Prices are set to be buoyed by a ten per cent reduction in supply from Kenya, which is the world largest exporter of black tea, resulting from political disturbances in the country, the FAO said.
The civil unrest has already impacted on prices, with the price of a kilogram of black tea having already risen to around $2.50 per kilogram since December, the Financial Times reports.
The price rises expected this year follow a 6.5 per cent increase in wholesale tea prices during 2007 to $1.95 per kilogram.
Meanwhile, prices for other brews are also up, especially cocoa, which has climbed 45 per cent over the last twelve months.
Cocoa is now trading at an average of $2,585 per tonne - the highest level for nearly a quarter of a century.
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