Tea Market Report: Week 16 (15 – 19 April 2024)

CTC Segment Highlights:

• Mombasa saw selective demand this week with reduced offerings of 250k packages, resulting in improved absorption but a 2cts lower average hammer price.

• Flavoury EoR BP1s experienced less demand at easier rates, while KTDA WoR BP1s attracted selective interest.

• Weather conditions remain normal with regular rains, but prices are slowly coming down as demand takes a step back.

Orthodox Segment Highlights:

• Colombo's auction recorded a decrease in offerings, showcasing an irregular trend in demand with certain grades experiencing a strong market.

• Best BOPs gained while others eased, and BOPFs were overall easier.

• Medium grown teas saw gains in OP1’s, but FBOPs were irregular and declined.

• Low grown leafy teas saw improvements in prices, while off grades had mixed movements.

Upcoming Developments and Concerns:

• Historically, April is a quiet month, but it marks the beginning of the cropping period for Ceylon Teas.

• Jakarta auction witnessed good general demand, with Orthodox selling at steady to firm rates.

• Weather conditions varied across regions, with occasional thunderstorms and heavy rains reported in some planting districts.