Week 18 2020

Tea market report 27 April – 1 May 2020

In the Mombasa auction, there was 184,369 packages on offer, up from 181,917 packages from the previous week. The auction was met with fair general demand and ended with 16% (29,660 packages) outlots, which is 16k up on the previous sale. Consequently, the all average hammer price dropped from $2.12 last week to close at $2.07, which can largely be attributed to the EoR PF1/PD and Rwanda BP1selling at lower levels. EoR BP1’s behaved in the same manner as last week with the better types firm to dearer, whereas poorer reprints were discounted.

“Seeing the mud around a lotus is pessimism, seeing a lotus in the mud is optimism.” – Amit Kalantri

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