WEEK 46, 2018

Tea market report 12 – 16 November 2018

In Kenya, where quantities have continued to rise, the auction featured 161,570 packages and opened very strong whereby most grades sold at firm to dearer rates. After the Afghan – Pakistan borders had re-opened this weekend demand was expected to increase. However, after the 3rd catalogue the auction proceeded a tumultuous fashion because of the breaking news that the Afghan customs had implemented a 300% duty increase on tea. This led to some panic and major Afghan operators went slow on their purchases.

“Two things are infinite: the universe and human stupidity; and I’m not sure about the universe.” – Albert Einstein

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