Palm oil, rubber prices flat. Let’s go for tea

target1 · 1 Palm oil, rubber prices flat. Let’s go for tea Tue Oct 26, 2021 6:50 am

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https://ycharts.com/indicators/kenya_tea_auction_price
Kenya Tea Auction Price is at a current level of 2.579, up from 2.254 last month and up from 2.478 one year ago. This is a change of 14.43% from last month and 4.10% from one year ago.

Mombasa: overall good demand
Kolkata: opened to good demand
Colombo: Select Best varieties of tea in all categories continued to sell well. Medium grown teas met good demand continued to sell well. Good demand maintained for LG teas.

Orthodox Low Grown Average in October

RS.647.23

Last edited by target1 on Tue Oct 26, 2021 7:16 am; edited 1 time in total

Tissa · 2 Re: Palm oil, rubber prices flat. Let’s go for tea Tue Oct 26, 2021 7:02 am

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KOTA 12++

ResearchMan · 3 Re: Palm oil, rubber prices flat. Let’s go for tea Tue Oct 26, 2021 12:55 pm

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Good time is coming for pull back stocks or stocks that had corrections.

https://finance.yahoo.com/news/getting-ready-next-leg-163504846.html
Getting Ready For The Next Leg Up

ResearchMan · 4 Re: Palm oil, rubber prices flat. Let’s go for tea Wed Oct 27, 2021 12:57 am

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Tissa wrote:KOTA 12++

Kota > rubber, palm oil, tea
Rubber, tea is firming up once again. some support for palm oil. Kota would like to have long commodity up trend.

Agricultural	Price	Day	%	Weekly	Monthly	YTD	Date
						-5.26%	Oct/26
						17.45%	Oct/26
						-25.78%	Oct/26
						7.59%	Oct/26
Palm Oil MYR/T	5,012.00	43.00	0.87%	-1.16%	14.06%	39.22%	Oct/26
						13.04%	Oct/26
Rice USD/cwt	13.2800	-0.1200	-0.90%	-3.21%	-5.11%	8.50%	Oct/26
Rubber JPY/Kg	218.30	4.60	2.15%	0.60%	13.88%	-18.79%	Oct/26
							Oct/25
Tea USD/Kgs	3.09	0.00	0.00%	4.39%	1.31%	7.67%	Oct/25
						94.66%	Oct/26

Emdmadusanka · 5 Re: Palm oil, rubber prices flat. Let’s go for tea Wed Oct 27, 2021 5:21 am

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Good time a head for plam oil companies specialy Namu,Wata
Keep on eye Buki,Cinv,Guar long way to go
Yesterday price 5350

ResearchMan · 6 Re: Palm oil, rubber prices flat. Let’s go for tea Wed Oct 27, 2021 5:54 am

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Good time is coming for diversified plantations too.

Is There a Rubber and Tire Shortage? Here's What Top Companies Think
REF: MOHIT OBEROI, CFA(OCT. 19 2021)https://marketrealist.com/p/is-there-a-tire-shortage/

https://www.thestar.com.my/business/business-news/2021/10/26/palm-oil-facing-a-supply-crunch
Palm oil facing a supply crunch

https://www.the-star.co.ke/business/kenya/2021-10-17-tea-prices-hit-five-year-high/
Tea prices hit five year high(Kenya)
The tea sub-sector plays a strategic role in the socio-economic development of the country

In Summary
· A kilo of tea leaf sold at a high of $2.31(Sh256.29) during the week, up from $2.26(Sh250.75) in the other week.
·The good price at the auction saw the volume of tea traded increase by 816,109kg.
Tea prices rallied to a five-year high at the Mombasa auction last week as key export markets sustained demand for the commodity.

A kilo of tea leaf sold at a high of $2.31(Sh256.29) during the week, up from $2.26(Sh250.75) in the other week.

The good price at the auction saw the volume of tea traded increase by 816,109kg.

It also saw the volume of tea withdrawn from the trading floor fall to 19 per cent from 24 per cent in the previous sale.

“There was a good general demand for 133,723 packages (8.7 million kg) available for sale with 107,205 packages (7 million kg) being sold,” said East African Tea Traders Association (Eatta).
In the week, Pakistan Packers were dominant and lent strong and forceful support while Yemen, other Middle Eastern countries, Egyptian Packers and Bazaar showed more and strong enquiry.

Kazakhstan, other CIS nations, UK and Russia were active with reduced activity from Sudan.

Iran were quieter while Afghanistan were subdued with less interest from Local Packers in line with price.Somalia lent good support at the lower end of the market.
Pakistan which absorbs about 40 per cent of all tea exports from Kenya recently agreed to remove ’Attestation Fee’ that was charged by the Pakistan High Commission in Nairobi, a move that has made Kenyan tea competitive in the export market.

The prices at the auction have been going up for the last three months as the minimum price set by government continues to have a positive impact on earnings.

The tea directorate had projected that the price of the beverage will continue rising in future sales as the sector regulator forecasts a decline in production, which will cut down on supplies, hence increasing demand.

According to Agriculture CS Peter Munya, the tea sub-sector plays a strategic role in the socio-economic development of the country by supporting over six million Kenyans directly and indirectly.

It generates over Sh130 billion annually in export earnings.