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 - 17TH & 18TH  JULY, 2017

Offerings this week totaled 136,100 packages (8,885,641.00kilos) against 123,784 packages (8,084,051.00kilos) for the same period last year, made up as follows:-

 

O F F E R E D

S O L D*

Year 2017

Packages

Kilos

Packages

Kilos

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

Malawi

-

-

-

-

Ethiopia

-

-

-

-

TOTAL

136,100

8,885,641.00

124,507

8,100,959.00

Year 2016

 

 

 

 

Kenya

92,815

6,239,179.00

84,007

5,635,367.00

Uganda

19,370

1,122,670.00

17,948

1,034,318.00

Rwanda

5,540

374,199.00

4,440

298,945.50

Burundi

3,420

218,056.00

3,320

216,365.00

Tanzania

2,080

96,353.00

1,860

84,543.50

Dem Rep of Congo

180

11,180.00

100

6,300.00

Mozambique

379

22,414.00

299

17,262.00

TOTAL

123,784

8,084,051.00

111,974

7,293,101.00

 (Inclusive of outlots from previous sales)

 

Good general demand prevailed for the 136,100 packages (8,885,641kilos) available in the market. However, 11.12% of the teas were neglected.

The best BP1s on offer appreciated by USC7 with brighter types irregular ranging between USC6 dearer to easier by up to USC10 while mediums saw an irregular enquiry varying between firm to USC12 dearer to easier by up to USC8 and some lines remained unsold; lower mediums eased by up to USC9 while plainer varieties were firm to USC2 below last prices. Best PF1s in the market shed up to USC6 with brighter categories steady to USC8 dearer while mediums ranged between firm to USC5 dearer to easier by up to USC4; lower medium PF1s were firm to USC8 easier with plainer descriptions irregular varying between USC12 dearer to easier by up to USC6.The best PDUSTs on offer gained marginally while brighter varieties met an irregular interest and varied between firm to USC8 dearer to easier by up to USC6 with mediums most irregular and ranged between USC8 to USC18 dearer to easier by a similar margin; lower mediums were well competed for at steady to USC12 easier with plainer descriptions well absorbed for at USC8 to USC14 above previous rates. Best DUST1s available were steady with brighter categories firm to USC2 dearer but a few lost value with a some invoices unsold while mediums opened firm to USC4 dearer but eased by a few cents as the sale progressed. Lower mediums were firm to USC6 dearer with some teas discounted by up to USC4 while plainer varieties were well absorbed at USC4 to USC10 above previous levels.

In the Secondary Catalogues BPs were firm while PFs appreciated. Clean well sorted coloury Fannings were irregular while similar DUSTs gained.  Other Fannings were dearer while similar DUSTs appreciated. BMFs were readily absorbed.

Egyptian Packers lent useful support but at lower rates while Pakistan Packers showed less interest. Yemen, other Middle Eastern countries and Afghanistan were active. Kazakhstan, other CIS nations, Sudan and Russia maintained activity but Bazaar and Iran showed less interest with UK quieter. Somalia was strong at the lower end of the market.

 

 

CTC QUOTATIONS

BP1 USC

PF1 USC

PD USC

D1 - USC

Best

310 396

373 450

385 420

380 438

Good

310 362

370 401

390 398

390 412

Good Medium

310 348

332 399

370 396

384 408

Medium

298 322

297 344

274 390

220 327

Lower Medium

175 277

200 282

228 252

240 250

Plainer

158 186

162 258

185 254

212 250