Tea Market Report: Week 8 (19 – 23 February 2024)

CTC Segment Highlights:

• Mombasa auction saw good demand with improved absorption despite reduced outlots, resulting in a slight decrease in the all-average hammer price.

• KTDA reprints were sold at various levels, improving absorption but putting pressure on prices.

• Flavoury EoR BP1s traded firm to dearer, with selective interest from multiple buyer regions.

• KTDA EoR PF1s traded firm, while EPK PF1s experienced increased demand.

• Weather conditions remained dry with decreasing crop intake, impacting market dynamics.

Orthodox Segment Highlights:

• Colombo auction recorded steady prices across most categories, with slight declines in some grades compared to the previous week.

• Nuwara Eliyah BOPFs were dearer, while Uva BOP/BOPFs gained in price.

• Bright weather reported across all planting districts, with varied crop intake trends.

Market Trends and Outlook:

• Jakarta auction saw fair demand, particularly for Java/Sumatra Orthodox teas.

• Kolkata auction opened with strong demand, with a quarter of the offerings remaining unsold.

• Rainfall predicted in Assam bodes well for crop manufacturing, with Darjeeling manufacturing set to begin in mid-March.

This summary provides insights into the recent developments and trends in both the CTC and Orthodox segments of the tea market, highlighting factors influencing market dynamics and future expectations.