Tea auctions this week

Friday, 17 February 2017 00:00 - - {{hitsCtrl.values.hits}}

By Forbes and

Walker Tea Brokers

This week a total of 5.9 M/kgs came under the hammer, marginally above the previous week’s quantity of 5.7 M/kgs.

Notwithstanding the increased volume on offer, the market continued strong, possibly in anticipation of a likely reduction in availability, perhaps a trend common across many producer countries. Ex- Estate offerings totalled a 0.9 M/kgs. The quality of teas on offer continued to maintain a reasonable standard all around. Below Best BOP’s – Select invoices gained substantially following special inquiry whilst the others were irregular. The corresponding BOPF were mostly irregular following quality. In the Below Best category, high price BOP’s of last week declined Rs. 10-20 per kg while the others together with the plainer sorts appreciated by a similar margin. Corresponding BOPF in the Below Best and plainer categories gained by Rs. 10-20 per kg and Rs. 20-30 per kg respectively. Nuwara Eliya’s few select BOP invoices were substantially dearer following special inquiry whilst the others were Rs. 20 per kg easier. Corresponding BOPF were barely steady. Udapussellawa BOP gained Rs. 10- 20 per kg. Uva BOP gained Rs. 10 -20 per kg while the BOPF appreciated Rs. 20-40 per kg. High and Medium Grown CTC BP1’s gained Rs. 20-30 per kg and more for select invoices whilst the corresponding PF1’s for High and Medium Grown teas appreciated Rs. 20-30 per kg and Rs. 30-60 per kg respectively.

Low Grown BP1’s appreciated Rs. 30-40 per kg whilst the PF1’s particularly at the lower end gained Rs. 20 per kg. Liquoring leafy teas met with less demand and consequently prices ranged from Rs. 650-1,000 per kg.

Low Growns totalled approximately 2.7M/kgs in the Leafy/Tippy catalogues this week. There was good demand. In the Leafy catalogue OP1/BOP1’s were fully firm to dearer. PEK/PEK1’s too were firm to dearer particularly for a range of improved sorts. Better OP/OPA’s were barely steady. Others were fully firm to dearer.

In the Tippy catalogue, better FBOP/FF1’s were fully firm to selectively dearer. Others too sold around last levels. In the Premium catalogue a select range of well-made teas were dearer. Others were mostly firm. There was good demand from shippers to Turkey, Iraq, CIS, Dubai and Saudi Arabia together with Kuwait.