Tea Market Report June 23 to June 27, 2008
Another set of fundamentally good markets this week. Mombasa was dearer
for BP1, easier for PF1 and PD / D1 held firm, Blantyre continued very
strong in all sectors, Colombo largely easier for high grown tea with low
growns dearer and flowery teas off into the stratosphere again. Jakarta
was less resilient but CTC stayed quite strong. The markets in north India
saw good demand and prices advanced for Assams but wavered for Dooars and
Cachars while orthodox was very strong and prices jumped sharply. South
India saw mixed demand for orthodox but CTC prices held largely firm.
North America has been quite active while the EU & UK markets were steady
operators in their favoured centres. Pakistan packers were, once more,
moderately active in Mombasa while Afghanistan dealers and Karachi were
mildly disinterested but have been showing interest post-auction. The
local market is reported to be short of tea. Egyptian buyers were quite
active in Mombasa but were in no way pushy and prices for the PD & D1
hardly moved. Middle East bought actively in Colombo and we saw increased
demand for the tippy and flowery types which moved up sharply. Poland has
seen slow wholesale and retail sales while in Russia, the weather has been
warm and tea consumption is seasonally declining as other beverages find
favour.
North India has seen rainfall but crop outturn is still on the low side
with some quality invoices being manufactured. In Kenya, both sides of the
Rift have been quite cool and dry with only light showers here and there
leading to lower crop intakes. In Malawi, the weather has been cool at
night with warm days and crop is low. Most growing areas in Sri Lanka have
experienced mixed weather and crop has declined slightly except in the low
country. Vietnam is enjoying good rainfall and warm temperatures whilst
China continues to see poor weather
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