CURRENT MARKET REPORT

 

 

                           The East African Tea Export Auctions

                                                         M O M B A S A

                                                                  (Held under the Rules of the East African Tea Trade Association)

                                                                  AUCTION NO 29 16TH & 17TH JULY, 2018

Offerings this week totaled 153,715 packages (9,904,349.00kilos) against 136,100 packages (8,885,641.00kilos) for the same period last year, made up as follows:-

 

O F F E R E D

S O L D*

Year 2018

Packages

Kilos

Packages

Kilos

Kenya

106,999

7,170,230.00

100,339

6,742,806.00

Uganda

28,736

1,596,948.00

24,498

1,348,608.00

Rwanda

8,660

592,260.00

6,840

467,588.00

Burundi

3,860

243,991.00

2,940

186,567.00

Tanzania

4,560

265,996.00

3,300

   188,740.00

Dem Rep of Congo

-

-

-

-

Mozambique

820

30,620.00

820

30,588.00

Madagascar

80

4,304.00

40

1,912.00

Malawi

-

-

-

-

TOTAL

153,715

9,904,349.00

138,777

8,966,809.00

Year 2017

 

 

 

 

Kenya

103,600

6,932,120.00

94,407

6,303,290.00

Uganda

19,520

1,122,373.00

18,460

1,056,307.00

Rwanda

6,420

436,970.00

5,660

384,176.00

Burundi

3,880

244,094.00

3,560

223,226.00

Tanzania

2,040

119,612.00

1,820

106,072.00

Dem Rep of Congo

100

5,288.00

100

5,288.00

Mozambique

460

20,880.00

420

18,296.00

Madagascar

80

4,304.00

80

4,304.00

TOTAL

136,100

8,885,641.00

124,507

8,100,959.00

 (Inclusive of outlots from previous sales)

 

Fair demand for the 153,715 packages (9,904,349 kilos) available in the market at irregular rates with 13.41% remaining unsold.

The best BP1s on offer were irregular varying between USC3 dearer to easier by USC5 while brighter categories were well-competed for at firm to USC36 dearer with medium types irregular and varied between USC6 to USC11 above previous levels to easier by USC4 to USC10 and some teas were unsold. Lower medium sorts were well absorbed at steady to USC27 dearer with plainer descriptions ranging between firm to USC18 dearer to easier by up to USC20. Best PF1s in the market shed USC10 to USC30 where sold with brighter varieties easing by USC8 to USC17 and some teas were neglected while mediums met an irregular interest ranging between USC8 dearer to easier by USC12 to USC14 and some invoices remained unsold; lower medium categories eased by USC3 to USC12 with some teas unsold while plainer sorts lost USC3 to USC12 with plainest difficult of sale. The best PDUSTs available appreciated by USC4 to USC6 with brighter types irregular varying between USC2 to USC18 dearer to easier by up to USC3 while mediums saw improved activity gaining USC2 to USC16 although a few teas were discounted on account of quality; lower medium sorts shed USC11 to USC39 and some lines were neglected while plainer descriptions eased by USC8 to USC20 with many invoices unsold. Best DUST1s on offer were firm to USC14 easier while brighter types ranged between USC5 dearer to easier by up to USC14 with mediums gaining USC6 to USC8. Lower medium varieties shed up to USC10 with a few invoices remaining without bids. Plainer categories met better interest with cleaner sorts appreciating by USC6 while others eased by up to USC10 and poorest were neglected.

In the Secondary Catalogues BPs gained while PFs were steady. Clean well sorted coloury Fannings were dearer while similar DUSTs remained firm. Other Fannings gained while similar DUSTs appreciated.  BMFs were well absorbed at dearer levels.

Pakistan Packers showed useful interest while Kazakhstan, other CIS nations and Sudan lent more support with Afghanistan, Yemen, other Middle Eastern countries, Russia and Bazaar maintaining activity. There was reduced enquiries from Egyptian Packers while UK were selective. Iran were subdued with Local Packers showing less interest. Somalia were more active at the lower end of the market.

  

CTC QUOTATIONS

BP1 USC

PF1 USC

PD USC

D1 - USC

Best

265 383

285 320

290 322

286 326

Good

245 364

282 309

275 322

270 315

Good Medium

240 352

268 306

282 316

276 306

Medium

200 288

250 280

240 294

240 280

Lower Medium

          131 268

172 248

146 239

200 250

Plainer

096 140

114 216

100 218

105 210