Friday Nov 15, 2024
Friday Nov 15, 2024
Friday, 17 March 2017 00:10 - - {{hitsCtrl.values.hits}}
This week’s auction offerings totalled 5.3 M/kgs with Low Growns meeting excellent demand while High and Medium Grown small leaf teas witnessed a bearish trend, Forbes and Walker said in their latest tea report.
Ex-Estate offerings totalled a 0.8 M/kgs. Overall the quality of teas from the Western planting sector was irregular while teas from other regions were mostly similar to last. Best Western BOP/BOPF’s were irregularly easier, particularly the thin liquoring or seasonal teas.
BOPs in the Below Best category gained Rs. 30-40 per kg and substantially more for select invoices following special inquiry. Plainer sorts were irregular and easier. Corresponding BOPFs in the Below Best and Plainer categories, which commenced firm to dearer, declined as the sale progressed by Rs. 10 per kg and more.
Nuwara Eliya’s brighter BOP’s were firm while the others were substantially dearer. Corresponding BOPFs gained Rs. 40-50 per kg. Udapussellawa BOP’s were Rs. 10-20 per kg dearer while the corresponding BOPFs were irregular. Uva BOPs declined by Rs. 10-20 per kg while the corresponding BOPFs were mostly firm.
High and Medium Grown CTC teas were firm with the latter gaining Rs. 10-20 per kg on select invoices. Low Grown types too mostly sold around last week’s levels. Liquoring leafy teas witnessed better demand and consequently the majority of the teas appreciated in value with prices ranging from Rs. 700-Rs. 1,000 per kg approximately.
Low Grows comprised approximately 2.5M/kgs in the Leafy/Tippy catalogues. There was excellent demand.
In the Leafy catalogue, BOP1/OP1s were fully firm to dearer while OP/OPAs too gained on last. PEK/PEK1s too gained Rs. 5-10 per kg and more with the bold PEKs in particular gaining further. In the Tippy catalogue too FBOP/FF1s were dearer to last.
Teas at the lower end too gained Rs. 5-10 per kg and more. In the Premium catalogue high priced teas were irregular .Others were however fully firm to dearer. There was good demand from shippers to the Commonwealth of Independent States (CIS), Turkey, Saudi Arabia, Iraq and Libya together with Dubai.
