Week 29 2020
Tea market report 12 July – 17 July 2020
Although large, the volume of 178k packages under hammer in Mombasa this week was not exceptional. The way it was sold was exceptional and won’t remain an exception for the time being. All teas have been offered through the e-auction system ITTS. There was fair demand for the teas on offer, leading to 21% outlots (38k packages). Best BP1s made strong gains due to antagonism between two buyers of which one is aiming at the Khazak market, this led to an increase up to 30 cents. Rwanda BP1s eased 20-30 cents with good medium trading firm and medium & plainer types selling firm to dearer. EoR PF1s also recovered with strong demand from Pakistan Bazaar.
“Half of what I say is meaningless; but I say it so that the other half may reach you.”– Kahlil Gibran
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