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 16 - 16TH & 17TH APRIL, 2018

Offerings this week totaled 130, 302 packages (8,519,423.00Kilos) against 128,576 packages (8,418,368.50kilos) 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

95,331

6,445,452.00

85,271

105,859,460.30

Uganda

15,974

895,737.00

14,680

18,156,819.00

Rwanda

8,297

559,128.00

6,827

6,988,214.00

Burundi

3,160

197,366.00

2,880

2,774,685.00

Tanzania

6,320

362,104.00

5,160

4,223,985.00

Dem Rep of Congo

520

33,076.00

300

126,296.00

Mozambique

-

-

-

217,082.00

Malawi

-

-

-

-

Ethiopia

700

26,560.00

700

246,626.00

TOTAL

130,302

8,519,423.00

115,888

138,593,167.30

Year 2017

 

 

 

 

Kenya

99,960

6,664,856.00

94,020

6,235,584.00

Uganda

15,395

922,034.00

13,155

752,381.00

Rwanda

6,180

415,097.00

5,560

376,019.00

Burundi

3,440

218,001.00

2,840

181,189.00

Tanzania

2,020

117,301.50

1,500

85,844.00

Dem Rep of Congo

200

13,012.00

200

13,012.00

Mozambique

500

28,238.00

500

28,238.00

Ethiopia

881

39,829.00

866

39,830.00

TOTAL

128,576

8,418,368.50

118,641

7,712,097.00

 (Inclusive of outlots from previous sales)

 

Fairly good demand prevailed for the 130,302 packages (8,519,423 kilos) on offer at irregular levels with 15.48% remaining without bids.

Best BP1s available shed USC8 while brighter types met an irregular enquiry varying between USC12 dearer to easier by USC2 to USC38 and some teas were unsold with medium categories irregular ranging between USC10 dearer to USC8 to USC40 below last levels and a few invoices were neglected. Lower mediums were steady to USC19 easier while plainer descriptions varied between USC8 dearer to USC4 easier with some invoices remaining unsold. The best PF1s in the market marginally eased with brighter sorts easing by USC3 to USC11 and a few lines were neglected while mediums were barely steady to USC8 easier. Lower medium varieties held firm to USC6 dearer with plainer sorts irregular and ranged between USC8 above previous levels to easier by a similar margin. Best PDUSTs on offer met good interest gaining up to USC31 with brighter categories irregular varying between USC18 dearer to easier by USC6 to USC15 and a few teas were neglected while mediums were firm to USC12 easier with some lines unsold. Lower medium descriptions were steady to USC2 below last prices while plainer types met an irregular interest following quality and varied between firm to USC20 dearer to easier by USC6 to USC10. The best DUST1s in the market appreciated by USC15 with brighter categories ranging between USC18 dearer to easier by USC7 to USC15 while medium varieties varied between USC4 dearer to easier by USC14 to USC17; lower mediums saw good enquiry and held firm to USC20 below last rates while plainer descriptions were irregular easing by USC6 to USC10 and more as the same progressed.

In the Secondary Catalogues BPs held value while PFs were firm. Clean well sorted coloury Fannings were irregularly dearer with similar DUSTs firm. Other Fannings tended dearer while DUSTs were steady. BMFs were well absorbed.

Pakistan Packers lent strong support and remained dominant with more enquiries from Yemen and other Middle Eastern countries. Egyptian Packers maintained strong support. Kazakhstan and other CIS states showed more but selective interest while Russia and Afghanistan lent good activity with reduced and selective enquiries from UK and Bazaar. Iran were quieter. Somalia were less active at the lower end of the market.

 

CTC QUOTATIONS

BP1 USC

PF1 USC

PD USC

D1 - USC

Best

274 390

306 360

296 365

280 360

Good

270 318

309 327

285 330

288 330

Good Medium

285 316

298 326

292 304

280 300

Medium

200 298

264 306

260 296

250 308

Lower Medium

150 245

170 270

190 274

210 270

Plainer

145 214

147 246

149 244

150 230