Week 18, 2015
Tea market report 27 April–1 May, 2015
The prices in Mombasa turned ‘North’ again this week under pressure of low offerings in the auction. But the overall favourable weather conditions since the end of March do not support ideas that this market will move up much further in the long term. Despite the good weather conditions, we don’t expect prices to move back to levels seen previous year as overall crop figures remain behind.
Demand in the Malawi auction was very strong this week, as the largest auction since the start of this year attracted many buyers. Although some light showers have been reported in some planting districts, overall the weather is turning drier which is seasonally normal. As the overall auction quantities remain stable we don’t expect prices to jump however we don’t see that much downward potential either. Jakarta was an irregular market this week, whilst Colombo showed less demand. Colombo is warm however some light showers have been reported which hopefully should help the bushes.
North Indian crop prospects look good as most planting districts received favourable pre monsoon showers. The main plucking seasons in both Vietnam and China are coming up whilst the season in Argentina has ended.
In the business world, the rear view mirror is always clearer than the windshield. – Warren Buffet
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