Tea Auction News - The Mombasa Tea (Weekly) Auction - SALE OF - 07TH/08TH JUNE 2010

MOMBASA AUCTION - SALE OF - 07TH/08TH JUNE 2010

Improved demand for the 9,824,286.40 million kilos (151,692 packages) on offer but at irregular rates closely following quality and less teas remained unsold (8.75%).

Brighter BP1s were a weak feature declining by USC8 to 50 but a few improved lines gained upto USC8 while mediums were difficult of sale and were heavily discounted by USC3 to 59; lower mediums saw better absorption at about last week's levels but a few improved well made types gained upto USC30. Plainer descriptions were well absorbed at firm to USC30 dearer. Brighter PF1s met better competition at firm to USC35 dearer with improved mediums well competed for at USC7 to 22 above last week's prices but others lost upto USC10. Lower medium PF1s were well absorbed at USC10 to 26 dearer with improved plainer sorts gaining upto USC38 but poorer lines were upto USC8 easier. Brighter PDUSTs saw less interest and shed USC5 to 30 while mediums were irregular ranging between USC24 dearer for clean coloury lines to easier by a similar margin; lower mediums saw improved competition gaining upto USC36 but a few poorer invoices shed USC2 to 10. Plainer types were irregular varying between USC6 to 38 dearer to easier by upto USC15. Brighter DUST1s were rather irregular and varied between USC5 to 17 dearer for clean types but others eased by USC22 to 40 while mediums met an irregular enquiry ranging between fully firm prices to easier by USC2 to 27. Clean lower mediums were well competed for at firm to USC5 dearer but others were discounted by upto USC32. Plainer descriptions were firm to USC38 above last levels.

In the secondary catalogues BPs gained while PFs were dearer. Clean well sorted coloury Fannings were irregular but on balance easier while similar Dusts were dearer. Other Fannings were firm to dearer with Dusts appreciating. BMFs were well absorbed at dearer levels.

Pakistan Packers and Afghanistan lent strong support while Egyptian Packers re-entered the market and were quite active. There was more interest from UK, Yemen, other Middle Eastern countries and Bazaar. Iran showed some activity with less interest from Sudan, Kazakhstan(CIS) and Russia. Somalia was active at the lower end of the market.

Source : F & W Weekly Tea Market Report