MOMBASA AUCTIONS REPORT 27TH MAY 2015

MOMBASA AUCTION
SALE OF - 25TH/ 26TH MAY 2015 (SALE NO.21)

 

Good but most irregular demand for 105,301 packages (6,860,389 kilos) on offer with prices closely followed quality and plainer teas were difficult of sale. 20.11% were neglected.

Best BP1s available held value with brighter categories irregular varying between firm to USC22 dearer to easier by upto USC6 with some lines remaining unsold while mediums were a weak feature and eased by upto USC11 although a few lines were USC10 above last rates. Lower mediums saw less interest and were discounted by upto USC48 but a few invoices gained upto USC8 while plainer descriptions were irregular and shed upto USC18 although some improved teas were upto USC6 above last prices.

The best PF1s on offer were upto USC17 dearer while brighter types met better enquiry appreciating by upto USC24 with mediums irregularly easier by upto USC20 but a few improved lines gained by a similar margin. Lower medium PF1s were irregular with quality ranging between USC8 to USC18 easier to dearer by similar levels while plainer sorts saw a rather irregular absorption varying between USC4 to USC16 easier with some lines neglected but a few improved invoices gained by a similar rate.

Best PDUSTs on offer appreciated by upto USC9 with brighter types USC6 to USC12 dearer but a few invoices eased by upto USC6 while mediums also saw irregular interest varying between firm to USC14 dearer to easier by the same rate. Lower mediums were barely steady to USC10 below last prices with plainer types a very weak feature and ranged between firm to USC6 dearer to easier by upto USC20 and many teas remained without bids.

The best DUST1s appreciated by upto USC30 while brighter sorts gained USC6 to USC16 with mediums irregular ranging between USC4 to USC14 dearer to easier by a similar rate. Lower mediums varied between firm to USC5 dearer to easier by the same levels while plainer teas were difficult of sale at barely steady rates to easier by upto USC20 with many teas neglected.

In the secondary catalogues well made BPs gained while others tended easier. PFs were irregular. Clean well sorted coloury Fannings were discounted with similar DUSTs dearer. Other Fannings lost value while similar DUSTs appreciated. BMFs were well absorbed.

Pakistan Packers lent very strong support and continued dominant while Afghanistan and Bazaar were more active with more enquiries from UK but was selective. Yemen and other Middle Eastern countries maintained support. There was less activity from Egyptian Packers, Kazakhstan, other CIS countries, Sudan and Russia. Iran was quiet. Somalia maintained interest at the lower end of the market.

CTC QUOTATIONS

BP1 - USC

PF1 - USC

PD - USC

D1 - USC

Best

305 - 398

358 - 380

320 - 379

292 - 330

Good

300 - 318

364 - 370

317 - 328

296 - 314

Good Medium

300 - 320

354 - 372

306 - 332

292 - 310

Medium

384 - 406

340 - 357

295 - 343

265 - 290

Lower Medium

132 - 240

155 - 290

272 - 295

240 - 292

Plainer

089 - 175

100 - 250

090 - 200

085 - 272

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Source - Africa Tea Brokers Limited

About F&W

Forbes & Walker was set up in 1881 as a partnership between James Forbes and Chapmen Walker. Although there is no actual record of the date on which it was established the very first cash book, still in the possession of the Finance Director, indicates the brokerages were earned from 1st August 1881. In Sir Thomas Villiers' book “Mercantile Lore” the date of establishment of Forbes & Walker has been put down      Read More...

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