Weekly market report

Weekly market report

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Week 25, 2019

While auctions quantities are moving up, there was less demand for the 2nd week in a row in the Mombasa auction. All grades traded at lower levels and a heavy 32% came out. Tea growing conditions have been healthy in the previous 4-6 weeks which is resulting in large auctions ahead of us.

Week 24, 2019

The Kenyan Tea Board announced Monday a sharp drop in April’s crop at 26M kgs. It did little to support an expected comeback after Eid which was anticipated. Bearish sentiment prevailed with 138K pkgs on offer and most grades selling at easier rates.

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