Good demand at weekly tea auctions

Friday, 25 August 2017 00:00 - - {{hitsCtrl.values.hits}}

By Forbes and Walker

This week’s auction offerings totalled a 7.3M/kgs. There was good general demand.

Ex-Estate offerings were similar to last and totalled a 0.9M/kgs. Quality of teas on offer from the Western and Nuwara Eliya planting districts continued to be irregular whilst teas from the Eastern sector showed a general improvement with a range of teas from the Malwatte region possessing nice seasonal quality. These flavoury invoices met with strong demand and realised attractive prices, amongst these premium prices the highest price realized for a Uva BOP, BOPF and PEKOE/FBOP grades are depicted in box.

Best Western BOPs were irregular with select high priced teas of last week often declining in value, others gained Rs.20 per kg and more following special inquiry. The corresponding BOPF declined Rs.10 per kg. BOPs in the below best category were Rs.10-20 per kg dearer whilst the corresponding BOPF were irregular and Rs.10-20 per kg lower mostly following quality.

Plainer BOPs were firm and up to Rs.10 per kg dearer whilst corresponding BOPF sold around last week’s levels. Nuwara Eliyas were irregular and tended easier. CTC teas which commenced on a hesitant note gathered some momentum as the sale progressed and were most often saleable at slightly lower levels to last.

Less activity from shippers to CIS and China whilst shippers to the UK, Continent and Japan continued to be reasonably active and followed quality closely.

Low Growns totalling 3.7M/kgs in the Leafy/ Tippy catalogues met with better demand this week. Overall quality too showed some improvement. In the Leafy catalogue BOP1/OP1s were mostly dearer to last whilst OP/OPAs gained Rs.10-15 per kg and more particularly for the below best sorts.

At the lower end cleaner varieties too gained by a similar margin whilst the others were barely steady. PEK/PEK1s were fully firm to dearer. Here again a selection of bolder PEKs gained Rs.10-20 per kg. In the Tippy catalogue better made FBOP/FF1’s were fully firm whilst cleaner secondaries gained Rs.10-15 per kg.

At the lower end too, the cleaner varieties were dearer to last whilst the others were irregularly lower. In the Premium catalogue prices were fully firm to dearer for most teas. There was good demand from shippers to CIS, Turkey, Iraq, Saudi Arabia, Dubai, Kuwait and Libya.