ANNUAL REPORT – 2001

QUALITY

In contrast to the previous year, tea-growing areas experienced plentiful and at times unseasonally heavy rains with only short periods of dry weather. The first quarter crop reflected an increase of 56% over the similar period in 2000 with the six months figure 46.27 million kgs ahead; at the end of the third quarter, the cumulative crop reflected an increase of over 35%. Only in November and December was there a comparative deficit over the same months in 2000. The final production for the year is estimated at 285 million kgs – 21% ahead of the previous year.

The extended periods of wet weather had an effect on overall quality. Within each category, better teas both in leaf appearance and cup quality, were generally rewarded, fetching premiums.

MARKET

The all-growth average price opened the year at US$1.96 ($1.91) per kilo, with a significant drop to US$1.57 ($2.00) by the end of the first quarter; the six-month figures reflected an average price of US$1.61 ($2.01) declining further to US$1.57 ($2.03) by the end of the third quarter and closing the year at US$1.53 ($2.02). (Comparison averages for 2001 in italics)

DEMAND

Considering the higher crops, and with quality teas often in short supply, offerings in Auction were satisfactorily absorbed, albeit at lower prices.

BUYERS

Pakistan Blenders were a strong feature of the Auction; the Bazaar and Afghanistan were active with varying strength but quiet in August and September with Afghanistan naturally out of the market for the weeks after September 11^th, re-entering the market at the end of November. There was strong enquiry from Egypt (purchases were affected by a short Comesa trade dispute in August). The Sudan, Yemen and other Middle Eastern countries were always active. The UK lent consistent support, closely following quality. Somalia and Ethiopia were active on traditional fibrous Fannings types. Latterly there were significant purchases for Russia and Eastern Europe with line orders for the USA, Ireland, Poland and other markets.

N J M WILSON

MANAGING DIRECTOR

AFRICA TEA BROKERS LIMITED

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BUYERS’ PURHCASES IN KILOS FOR THE YEAR 2001


RANK	BUYER	KENYA	UGANDA	RWANDA	BURUNDI	ZAMBIA	TANZANIA	MADAGASCAR	MALAWI	ZIMBABWE	TOTALS
1	Lipton Limited	62,297,258.50	640,787.50	1,479,525.50	227,773.50	-	341,308.00	6,831.00	19,520.00	-	65,013,004.00
2	James Finlay Msa	26,030,782.00	4,268,039.50	2,172,361.45	748,003.00	18,640.00	1,199,277.00	33,796.00	57,021.00	69,413.00	34,597,332.95
3	L.A.B. International (K) Ltd	22,033,376.50	3,578,186.50	1,288,671.50	994,095.50	19,196.00	1,420,665.50	13,758.00	106,880.00	59,270.00	29,514,099.50
4	Global Tea & Commodities	15,777,369.50	1,655,812.00	2,037,868.00	630,689.00	45,539.50	1,373,556.50	22,598.00	76,896.00	2,360.00	21,622,688.50
5	Juja Coffee Exporters Ltd	11,181,692.00	2,212,158.50	531,388.00	348,296.00	18,786.00	1,081,320.50	2,231.00	3,840.00	-	15,379,712.00
6	Van Rees Limited	12,640,222.50	674,641.50	725,272.00	199,870.00	-	526,303.00	2,596.00	26,880.00	4,319.00	14,800,104.00
7	Cofftea Agencies Limited	6,743,641.50	3,455,226.50	139,795.00	135,181.00	-	860,338.50	1,102.00	36,011.00	1,956.00	11,373,251.50
8	Mombasa Coffee Limited	9,608,714.50	921,766.50	37,230.00	22,033.50	-	100,164.00	2,695.00	2,480.00	-	10,695,083.50
9	M.J. Clarke Ltd	6,749,357.00	1,230,804.50	695,726.00	263,820.50	6,784.00	522,901.50	27,138.00	14,000.00	2,756.00	9,513,287.50
10	Stansand (A) Limited	7,404,676.00	340,183.00	72,236.50	-	9,400.00	1,226,122.00	5,474.00	2,400.00	35,560.00	9,096,051.50
11	Alibhai Ramji (Msa) Ltd	5,753,804.50	730,087.50	352,010.00	177,892.50	7,044.00	239,655.50	32,560.00	-	13,828.00	7,306,882.00
12	Abbas Traders Limited	3,252,741.00	2,823,685.00	220,848.50	69,036.50	14,295.50	599,491.50	11,496.00	44,025.00	20,792.00	7,056,411.00
13	Tanjal Investments Ltd	4,327,396.00	1,415,764.20	149,932.50	285,649.50	42,137.50	392,258.50	15,057.00	7,340.00	1,168.00	6,636,703.20
14	Al-Emir Limited	4,060,438.50	168,682.50	271,206.50	226,442.00	-	132,855.00	19,247.00	-	2,396.00	4,881,267.50
15	Devchand Keshavji (K) ltd	4,320,247.00	47,388.00	56,947.50	22,172.00	-	10,256.00