Tea auctions this week

Friday, 4 May 2012 00:01 - - {{hitsCtrl.values.hits}}

A total of 6.8m/Kgs came under the hammer this week. There was good general demand at irregular rates.

Ex-Estate offerings were similar to last and totalled a 1.2m/Kgs. Overall quality of teas from the Western Planting districts showed a general decline, whilst, the others showed no significant change. There was less demand in general and in particular for the better teas following the decline in quality.

Yet another feature would be the further weakening demand for BOPs which have consequently resulted in the price parity between the BOP/BOPFs being Rs. 50 per kg in favour of the latter. A disappointing feature would be the limited interest for CTC teas, particularly the PF1s. Liquoring leafy teas whilst, continued to attract reasonable interest sold lower to last week’s levels.

There was fair demand from shippers to the CIS together with Japan and some additional buying interest possibly from Pakistan.

Low grown tippy/leafy catalogues totalled 3.1m/kgs this week. There was fair general demand. In the Leafy catalogues, select best OP1/BOP1s sold at firm to dearer rates. PEK/PEK1s though irregular were mostly firm whilst OP/OPAs were irregular and often lower.

In the Tippy catalogues, better FBOP/FBOPF1s sold around last levels. A few cleaner secondaries too maintained last levels. Others particularly where leaf standard was not maintained, priced declined.

At the lower end of the market too clean leaf sorts were fully firm. Others were barely steady. CIS, Turkey, Dubai, Iraq, Libya, Saudi Arabia together with Kuwait were active this week.

(Source: Forbes and Walker Tea Brokers)