Good demand at 2017’s first tea auction

Friday, 6 January 2017 00:00 - - {{hitsCtrl.values.hits}}

By Forbes and

Walker Tea Brokers

The first auction of the year concluded had on offer a total of 6.7M/Kgs. There was good demand. Prices for Low Grown teas tend to fluctuate whilst High and Mid Grown small leaf teas made an impressive start recording significant price gains.

Ex-Estate offerings totalled 0.9M/Kgs. Overall quality of teas from Western planting districts had on offer a wider selection of brighter teas whilst teas from Nuwara Eliya and Uva/Udapussellawa regions were mostly similar to last.

Best Western BOPs – majority of teas gained Rs. 20 per kg and more from a selection of improved invoices following special inquiry. Corresponding BOPFs which at the commencement of the sale was up to Rs. 20 per kg dearer, moved up as the sale progressed recording gains of Rs. 40-60 per kg and more by the closure.

BOPs in the below best category gained Rs. 10-20 per kg whilst the plainer sorts were up to Rs. 30 per kg dearer. Corresponding BOPFs which at the commencement was up to Rs.30 per kg dearer appreciated by Rs. 40-60 per kg and more by the closure. Nuwara Eliyas were barely steady.

Uva/Udapussellawa BOPs were up to Rs.20 per kg dearer whilst corresponding BOPFs gained Rs. 30-40 per kg. CTC BP1s appreciated Rs. 10 per kg all around. Corresponding PF1s in High and Mid Grown categories gained Rs. 20-30 per kg whilst Low Growns gained Rs. 10-20 per kg. The limited availability of Liquoring Leafy Teas witnessed renewed interest and consequently prices ranged from Rs. 550-820.

There was improved widespread activity from most markets which is indeed encouraging.

Low Growns totalled approximately 3.3M/kgs in the Leafy/Tippy catalogues this week. There was fair demand at slightly lower levels.

In the Leafy Catalogue better BOP1/OP1s were lower. Others particularly the improved below best were firm. At the bottom end, however, prices were fully firm. OP/OPAs commenced Rs.5-10 per kg lower but declined further towards the close. PEKs too were irregular and lower. Better PEK1s were easier whilst selection of improved sorts maintained.

In the Tippy catalogues better FBOP/FF1s were irregular and lower. Cleaner secondaries were fully firm to selectively dearer. In the Premium catalogues too, a selection of teas were fully firm to selectively dearer. Others were mostly lower. There was good demand from shippers to Dubai, Iraq, Turkey, CIS, Saudi Arabia and Kuwait.