Tea market report 5 - 9 March 2018
Going into the Mombasa auction, dwindling volumes and the associated bullish sentiment were turned around by news of rain. In the end, most buyers were passive and prices eased. The absorption rate was reduced and the largest number of out-lots was recorded on the year, with slow to zero post auction activity. The rain has indeed arrived, right on time as expected and auction quantities are expected to pick up, albeit climate experts warn that the rains will be short lived.
“If you're not making mistakes, then you're not doing anything. I'm positive that a doer makes mistakes." - John Wooden
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