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 11   11TH & 12TH MARCH, 2019

Offerings this week totaled 167,105 packages (10,818,837.00kilos) against 126,273 packages (8,207,498.00kilos) for the same period last year, made up as follows:-

 

O F F E R E D

S O L D*

Year 2019

Packages

Kilos

Packages

Kilos

Kenya

118,280

7,934,982.00

104,500

7,026,017.00

Uganda

30,520

1,728,537.00

23,600

1,323,573.00

Rwanda

8,080

553,276.00

7,180

493,508.00

Burundi

4,020

256,810.00

3,580

228,132.00

Tanzania

5,680

320,960.00

4,460

258,833.00

Dem Rep of Congo

-

-

-

-

Malawi

-

-

-

-

Ethiopia

525

24,272.00

465

21,695.00

TOTAL

167,105

10,818,837.00

143,785

9,351,758.00

Year 2018

Packages

Kilos

Packages

Kilos

Kenya

91,974

6,180,430.00

84,260

5,669,851.00

Uganda

18,380

1,043,968.00

16,360

910,050.00

Rwanda

7,380

500,096.00

6,040

410,300.00

Burundi

2,819

179,852.00

2,219

142,144.00

Tanzania

4,820

250,508.00

4,520

232,562.00

Dem Rep of Congo

440

27,468.00

160

9,016.00

Mozambique

460

25,176.00

460

25,176.00

Ethiopia

-

-

-

-

TOTAL

126,273

8,207,498.00

114,019

7,399,099.00

 (Inclusive of outlots from previous sales)

 

Fairly good demand prevailed for the 167,105 packages (10,818,837 kilos) in the market at irregularly firm levels and 17.65% remained unsold.


Best BP1s on offer shed USC6 to USC14 with brighter varieties easing by up to USC50 and more and a few invoices were neglected but some improved lines gained up to USC2 while medium types saw an irregular enquiry ranging between firm to USC24 dearer to easier by up to USC10 with some teas unsold. Lower mediums gained USC2 to USC4 where sold with plainer teas varying between USC17 dearer to easier by up to USC12. The best PF1s available eased by USC2 to USC4 while brighter categories lost USC4 to USC18 and a few invoices were neglected with mediums irregular and ranged between firm to USC2 above previous rates to easier by USC14 and a few teas were unsold; lower mediums held steady to USC4 below last prices with plainer sorts a very weak feature and were discounted by up to USC25 and most of the teas remained unsold but a few improved invoices were up to USC2 dearer. Best PDUSTs in the market shed USC4 to USC32 with brighter sorts fully firm while medium types met an irregular interest varying between firm to USC13 dearer to easier by up to USC6 with a few invoices neglected. Lower medium varieties appreciated by USC6 to USC8 while plainer descriptions ranged between USC2 dearer to easier by up to USC35 and poorest were difficult of sale. The best DUST1s on offer eased by USC2 to USC6 while brighter categories gained USC2 to USC15 with mediums irregular ranging between firm to USC12 above previous prices to easier by up to USC18 and some lines were neglected. Lower medium varieties held steady to USC15 easier while plainer types were discounted by up to USC35 and plainest were unsold but a few improved teas appreciated by up to  USC6.

 

In the Secondary Catalogues BPs were firm with PFs easier. Clean well sorted coloury Fannings gained while DUSTs held value. Other Fannings were firm with DUSTs discounted. BMFs were well absorbed.

 

Egyptian Packers lent useful and strong support with useful interest from Pakistan Packers and Afghanistan while Yemen and other Middle Eastern nations showed more activity. Russia and Bazaar maintained support but there was reduced enquiry from Kazakhstan, other CIS states, UK and Sudan. Iran were subdued. Somalia maintained support at the lower end of the market.

 

.

CTC QUOTATIONS

BP1 USC

PF1 USC

PD USC

D1 - USC

Best

205 482

256 331

240 321

238 315

Good

202 252

246 278

234 260

230 258

Good Medium

180 400

220 284

210 270

208 278

Medium

168 236

190 248

196 243

180 256

Lower Medium

126 228

120 222

132 238

139 - 239

Plainer

102 176

065 184

065 216

065 216