WEEK 33, 2018

Tea market report 13 – 17 August 2018

This week’s Mombasa auction was generally a 2-tier market with better BP1s, better PDs & D1s trading firm to dearer while other teas met slow demand. This was also reflected by the absorption rate of only 83%, albeit many teas were absorbed post auction. The weather conditions are seasonally normal, sunshine and warmth are needed for crop to increase. After weeks of unusually high auction closings, the long-expected drop is there.

“No matter how brilliant your mind or strategy, if you’re playing a solo game, you’ll always lose out to a team.” – Reid Hoffman

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