Market Report: Week 4 (22 – 26 January 2024)

CTC Segment Highlights:

• Mombasa hosted its largest auction with 303k pkgs, witnessing fair demand; 56% of teas found buyers.

• Average hammer price dipped to USD 2.04/kg, despite the large auction size.

• KTDA EoR BP1s sold at irregularly firm to dearer rates due to demand from Kazakh & Pakistan buyers.

• Rwanda BP1s gained significantly due to strong demand from Kazakh, CIS & Egypt.

• Weather conditions remain conducive for tea growth, sustaining robust production.

• Limbe auction in Malawi saw selective demand; offgrades met good demand.

• CTC auctions in Jakarta and Kolkata experienced varied demand; well-made Assams met competition.

• Guwahati auction had fair demand, with some mediums trading easier and 38% remaining unsold.

Orthodox Segment Highlights:

• Colombo recorded strong demand across all tea regions; certain grades saw significant price gains.

• Weather conditions varied across planting districts; overall, bright mornings followed by afternoon rains were reported.

• Despite a larger offering, prices of most grades continued to rise.

• Jakarta auction saw good demand with 3% remaining unsold; Java/Sumatra orthodox sold at steady to firm levels.

• Kolkata auction witnessed strong demand, particularly for well-made brokens and larger leaf teas.

• Starting dates for manufacturing in Dooars and Darjeeling were released.