MOMBASA AUCTIONS REPORT 05TH AUGUST 2015

MOMBASA AUCTION
SALE OF - 03RD/ 04TH AUGUST 2015 (SALE NO.31)

Fairly good demand for the 105,473 packages (6,772,185kilos) on offer at generally easier levels but prices continued to follow quality. Many more teas i.e. 25.73% received no bids and were unsold.

Best BP1s available were discounted by upto USC20 while brighter descriptions shed USC4 to USC22 with mediums a weak feature easing by upto USC40 and more and some teas remained unsold but a few improved lines were upto USC6 dearer. Lower mediums shed upto USC40 and more with plainer types irregular varying between USC4 to USC12 dearer to easier by a similar level and a few invoices were neglected.

Best PF1s lost upto USC20 with brighter sorts substantially easier by upto USC38 while mediums saw similar tendency easing by upto USC40 but a few invoices were firm to USC30 dearer. Lower mediums lost upto USC18 while plainer descriptions met an irregular enquiry ranging between USC6 to USC14 dearer to easier by similar rates.

The best PDUSTs on offer appreciated by upto USC8 with brighter categories irregular and varied between USC4 to USC10 dearer to easier by the same levels while mediums shed upto USC38 with more teas unsold but a few improved invoices were irregularly dearer with quality. Lower mediums eased by upto USC10 but some improved invoices were upto USC6 above last prices. Plainer types met an irregular interest varying between firm to USC26 dearer to easier by the same level and many teas were neglected.

Best DUST1s were upto USC10 easier while brighter descriptions were firm to USC10 dearer to easier by a similar level with mediums irregular ranging between USC4 to USC10 dearer to easier by upto USC8 and more teas were neglected. Lower mediums were heavily discounted by upto USC30 and more but a few lines with improvement gained while plainer types were irregular varying between USC4 to USC30 easier to dearer by similar levels.

In the secondary catalogues BPs were dearer while PFs were easier. Clean well sorted coloury Fannings eased while similar DUSTs appreciated. Other Fannings were irregular while DUSTs gained. BMFs were well absorbed.

Yemen and other Middle Eastern countries showed more support while Kazakhstan, other CIS states, Sudan and Egyptian Packers maintained interest. Afghanistan was active but at lower levels while Pakistan Packers showed less activity at lower rates with reduced interest from UK and Bazaar. Russia and Iran were subdued. Somalia continued active at the lower end of the market.

CTC QUOTATIONS

BP1 - USC

PF1 - USC

PD - USC

D1 - USC

Best

341 - 384

425 - 470

455 - 478

380 - 414

Good

360 - 376

425 - 438

460 - 476

375 - 396

Good Medium

340 - 382

397 - 436

450 - 478

350 - 400

Medium

220 - 342

380 - 415

305 - 390

300 - 366

Lower Medium

160 - 287

167 - 305

174 - 304

239 - 300

Plainer

100 - 208

120 - 288

110 - 288

105 - 248

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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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