Week 31 2020
Tea market report 27 July – 31 July 2020
Colder weather upcountry and reduced amounts of tea available in the coming weeks, fed bullish sentiments in this week’s Mombasa auction. A reduced amount of 176k came under hammer and despite the average auction price went up by 9cts, a fairly large 37k packages came out. Best BP1s gained 8-15cts due to strong competition between Kazakh and Sudan buyers. Below best and good medium BP1s traded irregularly firm to dearer, medium BP1s irregularly steady to easier with select best dearer, the plainer end gained up to 4cts. PF1s traded all firm up to 4cts dearer with good medium PF1s gaining 4-6cts with selected lines more. The 159k packages closing has lit the fire of the sentiment of the Pakistan & Afghan buyers.
“If summer had one defining scent, it’d definitely be the smell of barbecue.”– Katie Lee
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