- Kenyan tea producer Kapchorua issued a profit warning on Friday, blaming a sustained fall in the commodity's price at auction.
Kapchorua reported a 27 percent fall in profits in its first half ended September and on Friday said it anticipated earnings for the full financial year could be at least 25 percent lower than last year.
Kenya is the world's leading black tea exporter and the crop is a major foreign exchange earner in east Africa's largest economy, alongside horticulture and tourism.
Earlier this week, agricultural firm Kakuzi Ltd said its pretax profits halved in 2013, hurt by a steep decline in the turnover of its avocado and tea divisions.
Last year, Kapchorua and its peer company, Williamson tea , expressed concern that international tea markets had declined sharply in their first half ended September and were 30 percent below the same period in 2012, and at a seven-year low.
http://www.reuters.com/a...ua-idUSL6N0MI2E220140321No diagnosis,no pragnosis,no pragnosis no profit......Jesse livermore