Friday, 2 January 2015 00:00
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By Forbes and Walker Tea Brokers
The 50th and final sale of the year was concluded and had on offer 7.2M/Kgs. There was fair demand at easier rates. The limited interest from Shippers to CIS following the depreciation of the Russian Rouble continued to take a toll on tea prices.
This week’s Ex Estate offerings comprised of 1.2M/Kgs. Overall quality of teas on offer showed a general decline. Consequently, Best Western BOP/BOPFs declined by Rs. 10-20 per kg and more in keeping with the decline in quality. In the below best category too a select range of BOPs gained up to Rs. 20 per kg, whilst the corresponding BOPFs declined by Rs. 20 per kg and more.
Plainer BOPs were irregular, whilst the corresponding BOPFs declined by an average Rs. 10 per kg with the poor leaf types being difficult of sale. Nuwara Eliya BOPs appreciated by Rs. 10 per kg, whilst the corresponding BOPFs declined by a similar margin. Udapusellawa BOPs were irregular, whilst the corresponding BOPFs declined by Rs. 10 per kg and substantially more for poor leaf types. Uva BOP/BOPFs were irregular.
CTCs continued to witness an easier trend with the exception of a few select clean leaf coloury types which held firm. There was hardly any activity from shippers to CIS, whilst there was fair interest from South Africa, Japan and other traditional markets.
Low Growns totalled 3.4M/kgs in the Leafy/Tippy catalogues. There was fair demand at slightly lower levels. In the Leafy catalogue, select best OP1/BOP1s declined Rs. 10-15 per kg and more whilst others, particularly the clean/improved below best sorts were fully firm. Better OP/OPAs too followed a similar trend whilst the balance were mostly firm on last.
PEK/PEK1s though irregular, sold around last levels. Here again a selection of bold PEKs gained Rs. 10-15 per kg. In the Tippy catalogue FBOP/FF1s were generally easier. Tippy invoices too were mostly easier with the exception of few a few neat leaf teas that were fully firm. Turkey, Iraq, Dubai, Kuwait, Saudi Arabia together with CIS were active this week.
