Week 10 2020

Tea market report 02 – 06 March 2020

Large auction quantities have been readily absorbed in the past period. Considering the volumes, demand kept up very well. This week’s Mombasa auction met fair demand for the 197k packages on offer. The market opened steady to easier across all grades and continued to slide during the day leading to 13.5% of the teas on offer remaining unsold, which – all things considering – isn’t too bad. BP1s traded generally steady up to 10cts easier with only Rwanda BP1s managing to trade firm up to 40cts dearer.

“Every morning in Africa, a gazelle wakes up. It knows it must run faster than the fastest lion, or it will be killed. Every morning a lion wakes up. It knows it must outrun the slowest gazelle, or it will starve to death. It doesn’t matter whether you are a lion or a gazelle. When the sun comes up, you better start running.“  — Thomas Friedman