Week 07, 2020

Tea market report 10 – 14 February 2020

In Kenya, the sixth auction of the year saw the total packages on offer drop from the record highs of the previous weeks, to a still impressive 189’950. There was fairly good demand and the absorption rates remained high, with 12% remaining unsold. Overall, the market was easier across the board, however, the all average hammer price lost by 5usc and fell to $2.03, except for Burundi BP1 and PF1’s which gained, defying the market dynamics for a second week running. In Malawi, in this week’s auction there were 8’860 packages on offer and the absorption rate sat at 65.46% by the close of play.

“When a man opens a car door for his wife, it’s either a new car or a new wife.“  — Prince Philip