Lower quantity but good demand at this week’s tea auctions

Thursday, 31 August 2017 00:00 - - {{hitsCtrl.values.hits}}

By Forbes and Walker Tea Brokers

This week’s total auction quantity recorded a significant decline over last week and totalled 6.1M/kgs vis-à-vis 7.3M/kg on offer the previous week.

There was good demand. Ex-Estate offerings showed a marginal decline and totalled 0.8M/kg vis-à-vis a 0.9M/kg on offer the previous week. The quality of offerings from the Western/Udapussellawa planting districts was fairly similar to last week whilst teas from the Nuwara Eliya and Uva region were generally improved. Amidst these teas from Uva a small selection of teas from the Malwatte Valley region showed fair improvement in seasonal quality and flavour. Consequently these flavoury invoices realised some attractive prices, establishing three new all-time record prices. See table for details.

Best Western BOP’s - where quality was improved appreciated up to Rs. 20 per kg whilst the corresponding BOPF were irregular following quality. In the below best category BOP’s were mostly firm whilst corresponding BOPF - select brighter invoices Rs. 10 per kg dearer, others firm. Plainer BOP/BOPF’s mostly sold around last week’s levels. Nuwara Eliya’s appreciated Rs. 20-40 per kg following improved quality. Uva seasonal teas continued to sell well whilst prices fluctuated following quality and overseas bids other Uva/Udapussellawa BOP/BOPF’s were firm up to Rs. 20 per kg dearer. CTC BP1’s appreciated up to Rs. 20 per kg in most instances whilst corresponding PF1’s sold around last week’s levels with the exception of teas from the Western region which declined by a similar margin.

There was fair demand from shippers to CIS and China whilst shippers to UK, the Continent and Japan were selective following quality.

Low Growns totaling 3.2M/kgs in the Leafy/Tippy catalogues met with good demand. In the Leafy catalogue OP1/BOP1’s sold at fully firm to dearer rates whilst OP/OPA’s too were mostly firm. PEK/PEK1’s too were fully firm to dearer with the below best and the bottom end PEK1’s gaining Rs. 10-20 per kg and more. In the Tippy catalogue too select best FBOP/FF1’s were fully firm to dearer whilst the cleaner secondaries gained Rs. 10-20 per kg. At the lower end too cleaner types gained Rs. 10-20 per kg and more. In the premium catalogue well-made teas gained whilst others too were fully firm to dearer. There was good demand from shippers to Dubai, Turkey, CIS, Saudi, Iraq and Kuwait.