REGIONAL TEA AUCTION: Rwanda sells over 94 percent of the tea it offered

Over 14 percent of East African tea remains unsold. At least 14.4 percent of tea that was offered for sale at the Mombasa tea auction last week was not sold.  

Over 14 percent of East African tea remains unsold.

At least 14.4 percent of tea that was offered for sale at the Mombasa tea auction last week was not sold.  

The weekly report on the sale released by the Africa Tea Brokers (ATB), an affiliate of the East African Tea Trade Association (EATTA) indicates that only 6,116,633.90 million kilograms of the commodity was sold at the auction from initial offerings totaling 6,526,452.90 million kilograms. 

During the same period last year, 7,158,866.50 million kilogrammes were sold against offerings amounting to 7,364,164 million kilograms.  

According to the report, there was improved general demand for the 6.52 million kilograms of tea which was sold at irregular rates with 14.40 per cent of the teas remaining unsold.

The average auction price during this auction was $2.14. 
During this sale, Sudan reportedly lent strong support with more interest from Egyptian Packers and Kazakhstan while Afghanistan showed improved enquiry. 

Other countries which showed interest but at lower levels includes Yemen and other middle-eastern countries.

Other enquiries includes the United Kingdom, Russia and Somalia.  Kenya sold the most tea during this sale at 4,418,877 million kilograms of tea from offerings totaling 4,693,787 million kilograms.

Tea from Kenya fetched an average auction price of US dollars 2.27. 

Uganda, who had offered 871,697 kilograms of tea, managed to sell 779,793.50 kilograms of the commodity while Tanzania sold 314,722.90 kilograms of her tea from initial offerings totaling 332,973.40 kilograms.  

Tea from the former attracted a price of US dollars 1.80 while that from Tanzania fetched $1.46. 

East African Community (EAC) partner states Burundi sold 148,562 kilograms from offerings totalling 156,894 kilograms while Rwanda who had offered 392,585.50 kilograms managed to sell 372,643.50 kilograms.  

Tea from Burundi was sold at $ 2.11 while tea from Rwanda fetched US dollars 2.15.

Malawi who had offered 78,516 kilograms sold 77,168 kilograms of the same at US dollars 1.32. According to the report Zambia, Mozambique and Madagascar did not make any offers during the week under review.

The East African Tea Export Auctions in Mombasa
(Held under the Rules of the East African Tea Trade Association)

Offerings this week totaled 102,930 packages (6,526,452.90 kilos) against 115,215 packages (7,364,164.00 kilos).

Ends

 

Have Your SayLeave a comment