Tea auction this week

Friday, 17 June 2011 00:40 - - {{hitsCtrl.values.hits}}

This week’s offering continued around 8m/kg. There was fair demand at irregular rates.

Ex-Estate offerings were lower to last and totalled 1.3m/kgs. Overall quality of Westerns were irregular whilst Nuwara-Eliyas together with the Udapussellawas showed no significant change.

The better Westerns appreciated in value, particularly, the BOPs whilst the others were barely maintained. The disheartening feature was the lack of demand for BOPFs in the Below Best Category – which declined Rs. 5-10, and more with a air weight remaining unsold. Nuwara-Eliyas continued to be a disappointing feature – whilst the Liquoring Leafy Teas were irregular and mostly unsold. CTC varieties were substantially lower, notwithstanding, firm to dearer trend in prices at this week’s Mombasa Tea Auction.

Low Growns comprised of approx 3.8m/kgs, in the Leafy/Tippy Catalogues. There was good demand particularly for the Select Best teas. Consequently, in the Leafy Catalogue select best Pekoe/Pekoe1s together with the OP/OPAs sold at firm to irregularly dearer rates, others too met with fair demand but at lower levels. In the Tippy Catalogue too a few select best FBOPs/FF1s together with Clean Below Best sorts sold around last levels, whilst, most others were irregular and lower. CIS, Dubai, Turkey, Saudi Arabia, Kuwait together with Iraq continued to operate on a fair cross section of teas – whilst, the other traditional out markets too were active but to a lesser extent. (Source: Forbes and Walker Tea Brokers).