Week 19 2020

Tea market report 4 – 8 May 2020

The clear turn was there in the Mombasa auction. Less demand lead to generally steady to easier rates, with medium PF1s dropping even up to 30 usc. Remarkably less general demand and dropping rates came with a lower percentage outlots vs last week (11.5% vs 13.96%). Best BP1s traded irregularly firm to dearer, below best steady to 10cts easier, good medium 10-15 cts easier, medium firm to dearer and plainer firm to 4cts dearer. Kazakh & CIS buyers were active while especially Sudan was slower.

“A black cat crossing your path signifies that the animal is going somewhere.” – Groucho Marx