Tea auctions this week

Friday, 26 November 2010 00:32 - - {{hitsCtrl.values.hits}}

A total of 6.7 m/kgs came under the hammer. There was less demand.

Ex-estate offerings increased to a 1.0 m/kgs this week. Overall quality of teas from the Western slops were irregular on last although had on offer a fair selection of useful liquoring teas, whilst the Nuwara Eliyas and the Uva/Udapussellawas showed no significant change.

BOPs/BOPFs from estates in the Western planting districts on average declined Rs.5/- per kg and Rs.10/- per kg respectively whilst teas from the Eastern sector witnessed a more firm to dearer trend in prices. CTC continued to sell well particularly the High and Medium grown types whilst liquoring leafy teas witnessed selective demand following airmail inquiry. Shippers to the CIS were somewhat less active whilst there appeared to be improved interest from Japan.

Low growns totalled 3.6 m/kgs this week in the Leafy/Tippy catalogues. There was good demand but at lower levels. In the Leafy catalogues a select range of OP1s/BOP1s sold around last levels. Poorer types, however, were easier to last. Better OP/OPAs too met with good demand but were generally easier to last. However, a selection of clean below best sorts held firm. Here again, teas at the lower end were easier.

High priced Pekoes too were mostly lower. However, the bolder types sold around last levels. In the Tippy catalogues a select range of FBOPs together with the clean neat leaf FF1s sold around last levels, others which commenced Rs.10-15 per kg easier, gained mostly towards the close. At the lower end cleaner types though easier to last, met with fair demand. Poorer stalky varieties were however easier. There was good demand from CIS, Iran, Turkey, Syria, Saudi Arabia and Dubai.

Source: Forbes & Walker Tea Brokers.