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Weekly market report

 

Week 37, 2014                                                  

 

Tea market report 8-12 September, 2014

 

Not a lot of direction this week with most centres quite irregular. Mombasa managed to hold for most grades and sometimes gained. We came out with a much better 17% but availability remains high and absorption is key. Limbe had a good session as especially special cultivars attracted good demand. Colombo declined further but “cheaper” sections start to draw attention from various markets. North Indian teas did well and so did Indonesian CTC’s though orthodox teas were irregular. There was no sale in Cochin and in other auction centres prices moved around last levels. Autumn is upon the northern part of the globe but consumption isn’t showing any real boost yet as large parts enjoy nice Indian summer weather.

 

The weather in most tea planting districts is normal for the time of year. In Kenya the cold spell is slowly drawing to a close and short rains have arrived. Malawi received some light rains and lower temperatures to go with it, but crop is quite favourable for the time of year and a normal to a good start is in the cards. Sri Lanka is quite dry & windy in the east with isolated showers in the low country but auction quantities are holding up well. Indonesia is receiving light rains and mostly experiencing bright conditions. Crop is slowly increasing. The monsoon in North India battered tea estates once again in the period under review and quiet autumn weather prevailed in China and Vietnam.

 

The fundamentals haven’t changed. Global crop is good and buyers can be both selective & relaxed in their pursuit for the right teas. We expect these circumstances to continue till the end of the year when origins like Malawi and Argentina start up their seasons and others, like China and Vietnam go in their respective off seasons.

 

From Henry Ford:

 

Failure is simply the opportunity to begin again, this time more intelligently.”



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