WEEK 24, 2019

Tea market report 10 – 14 June 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 Bearish sentiment prevailed with 138K pkgs on offer and most grades selling at easier rates. 43K pkgs were withdrawn which comprised of mostly plainer sorts meeting little or no interest even at sub USD 1.00 hammer levels. The closing of sale 26 at 170K pkgs diminished Pakistan and Afghanistan demand. Main culprits were concerns about the local currency, fairly high local stocks and hot weather conditions which are not conducive for tea consumption.

“One generation plants the trees, and another gets the shade.” – Chinese Proverb

To read the full report, please download the PDF file: