Tagged: futures contract

Tea Futures Traded Once, Briefly, in 1901 New York

Coffee, cocoa and sugar all trade futures. Tea has had none since a short-lived New York contract in 1901. A physically delivered contract founders on standardization: no two lots of tea are the same thing.

How a Tea's Price Gets Set

The auction publishes a price in public. Private treaty sales do not, smallholders cannot always wait for a fair one, and Kenya split its floor to give quality a price of its own.