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African Tea market Weekly Report 1st Nov,2016

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 44 – 31ST OCTOBER & 1ST NOVEMBER, 2016

 

Offerings this week totaled 113,258 packages (7,400,472.00kilos) against  125,671 packages (8,229,490.00kilos) for the same period last year, made up as follows:

 

O F F E R E D

S O L D*

Year 2016

Packages

Kilos

Packages

Kilos

Kenya

87,920

5,927,734.00

84,400

5,698,526.00

Uganda

18,498

1,038,570.00

17,318

969,490.00

Rwanda

3,460

232,104.00

3,160

209,930.00

Burundi

1,380

90,772.00

1,220

79,332.00

Tanzania

1,840

103,428.00

1,840

103,408.00

Dem Rep of Congo

-

-

-

-

Mozambique

160

7,864.00

120

5,868.00

Madagascar

-

-

-

-

TOTAL

113,258

7,400,472.00

108,058

7,066,554.00

Year 2015

 

 

 

 

Kenya

101,640

6,857,582.00

82,539

6,107,511.00

Uganda

17,753

988,075.00

16,053

880,851.00

Rwanda

3,698

243,981.00

2,998

198,153.50

Burundi

1,740

103,324.00

1,200

74,556.00

Tanzania

840

36,528.00

780

33,292.00

Dem Rep of Congo

-

-

-

-

Mozambique

-

-

-

-

TOTAL

125,671

8,229,490.00

103,570

7,294,363.50

 (Inclusive of outlots from previous sales)

 

Improved and strong demand for the 113,258 packages (7,400,472kilos) on offer with prices advancing with quality. 6.02% were however neglected.

The best BP1s available were steady with brighter varieties USC3 to USC26 dearer while mediums met strong interest gaining upto USC34 but a few lines opened upto USC6 easier; lower mediums saw better absorption and appreciated by upto USC22 with plainer descriptions firm to USC6 dearer but poorest eased by the same level. Best PF1s in the market appreciated by upto USC10 while brighter types were USC10 to USC22 dearer with mediums a strong feature and gained USC4 to USC30; lower mediums held firm to USC16 dearer with a few invoices easing by USC2. Plainer PF1s were better absorbed at firm to USC10 above last prices. The best PDUSTs on offer met strong competition gaining upto USC40 with brighter sorts a strong feature and appreciated by USC12 to USC74 and substantially more for improved quality while mediums were firm to USC24 dearer; lower mediums were barely steady but the few improved invoices gained upto USC12 with plainer varieties irregular varying between firm to USC6 dearer to easier by upto USC8. Best DUST1s were barely firm to USC5 easier while brighter categories advanced by upto USC22 with mediums firm to USC28 dearer; lower mediums were about firm to USC4 dearer with plainer types irregular and ranged between firm to USC6 dearer to easier by upto USC14.

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

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

 

CTC QUOTATIONS

BP1 – USC

PF1 – USC

PD – USC

D1 - USC

Best

348 – 420

330 – 380

339 – 430

320 – 400

Good

340 – 398

320 – 354

346 – 376

340 – 378

Good Medium

316 – 396

286 – 348

270 – 371

250 – 375

Medium

279 – 330

242 – 275

220 – 320

170 – 270

Lower Medium

156 – 260

160 – 198

135 – 180

155 – 180

Plainer

145 – 186

136 – 188

120 – 172

115 – 185

 

(Source: www.atbltd.com)

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