MOMBASA AUCTIONS REPORT 10TH JUNE 2015

MOMBASA AUCTION
SALE OF - 08TH/ 09TH JUNE 2015 (SALE NO.23)

 

Strong general demand for the 128,075 packages (8,350,540kilos) on offer with prices closely following quality. Only 13.77% remained without bids.

Best BP1s on offer met fair interest at USC5 dearer while brighter types saw improved enquiry gaining USC4 to USC20 with mediums irregularly USC14 to USC18 easier but a few better made lines were firm to USC5 dearer. Lower mediums met an irregular interest varying between USC10 to USC16 above last prices to easier by similar levels while plainer descriptions shed upto USC20 but a few improved invoices were dearer by similar rates.

The best PF1s available appreciated by upto USC22 with brighter sorts a strong feature and gained USC20 to USC50 while mediums were well competed for at USC8 to USC46 dearer. Lower mediums were irregular due to appearance and varied between USC10 below last levels with some lines neglected but a few improved line gained by a similar level while plainer types saw better absorption at firm to USC20 dearer but poorer lines lost upto USC12 and some teas remained unsold.

Best PDUSTs appreciated by upto USC12 with quality while brighter categories met strong interest at USC20 to USC46 dearer with mediums gaining USC12 to USC36. Lower medium PDUSTs ranged between USC20 to USC28 above last prices to easier by upto USC16 with a few teas remaining unsold while plainer sorts held firm to USC30 dearer but poorer lines were unsold.

The best DUST1s offered were upto USC2 dearer with brighter descriptions appreciating by USC20 to USC30 while mediums were irregular with cleaner coloury lines gaining upto USC46 but others were irregularly USC6 to USC20 easier with some teas remaining unsold. Lower mediums were firm to USC20 dearer with plainer varieties firm to USC16 dearer but poorer invoices were neglected.

In the secondary catalogues the BPs were firm. Brighter PFs gained while others were discounted. Clean well sorted coloury Fannings gained while similar DUSTs held value. Other Fannings were about firm while DUSTs depreciated. BMFs were well absorbed.

Pakistan Packers showed strong support and were dominant while Afghanistan lent strong activity with more interest from Egyptian Packers, Yemen other Middle Eastern countries and Bazaar. UK showed more activity but was selective while Kazakhstan and other CIS countries were very selective and there was less interest from Sudan. Russia was operating but Iran was quiet. Somalia maintained activity.

CTC QUOTATIONS

BP1 - USC

PF1 - USC

PD - USC

D1 - USC

Best

320 - 375

392 - 412

340 - 373

317 - 318

Good

308 - 338

398 - 411

341 - 358

310 - 336

Good Medium

305 - 328

380 - 412

330 - 358

285 - 318

Medium

272 - 300

334 - 390

293 - 330

265 - 308

Lower Medium

155 - 300

150 - 290

100 - 288

262 - 279

Plainer

088 - 148

088 - 260

090 - 266

140 - 240

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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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