Fair demand at final tea auction for 2011

Thursday, 22 December 2011 00:45 - - {{hitsCtrl.values.hits}}

50th and final sale for the year 2011 was concluded today and had on offer a total of 7.4m/Kgs. There was fair general demand. Ex-Estate offerings totalled a 1.3m/Kgs. Notwithstanding the overall quality of offerings being irregular and barely maintained, it was encouraging to observe the renewed activity, particularly for the BOP’s and that too, for the better liquoring Westerns. Consequently these teas appreciated Rs.20-30/- per kg and more.

BOPF’s commenced on a buoyant note, although tend to weaken towards the close. The disappointing feature would be the poor prices realized for the Nuwara-Eliyas and the fairly significant decline in prices for the Uvas, particularly for the BOPF’s. CTC varieties lost on average Rs.5-10/- which was mainly following quality. Liquoring leafy teas witnessed some useful price gains for the limited selection on offer. Shippers to the CIS continued to be active on a fair cross section of the offerings with some additional buying interest from Pakistan, together with Shippers to the UK and the Continent picking up selectively.

Low Grown’s comprised of 3.6m/Kgs in the Leafy/Tippy catalogues. There was fair general demand. In the Leafy catalogue, a fair selection of better BOP1/OP1’s maintained. Others were mostly lower following quality. Better OP/OPA’s too were firm. However where quality was not maintained, prices declined by Rs.10-15/-. At the lower end too prices eased Rs.5-10/- per Kg for poor stalky types. High priced PEK’s were barely steady. Others though irregular were firm. In the Tippy catalogue too better FBOP/FF1’s maintained whilst others were often lower. A select range of Tippy invoices sold around last levels. Others were lower particularly following quality. At the lower end the cleaner types held firm. Balance were lower. CIS, Turkey, Dubai, Iraq, Saudi Arabia and Kuwait were active this week.

(Source: Forbes and Walker Tea Brokers)