Tea auctions this week

From Forbes and Walker

The 47th sale of the year which was concluded today had on offer a total of 6.1 m/kgs. There was good demand.

Ex-estate offerings showed a decline over the previous week’s quantity and totalled 0.8 m/kgs. Hitherto, prices for BOPFs have most often commanded a premium and consequently the overall auction availability have been greatly weighted towards BOPFs.

This week, with enhanced buying interest for BOPs and its significantly lower availability resulted in a sharp escalation in prices for this grade. At the commencement of the sale BOPs witnessed a gain of Rs.10-20 per kg which moved up as the sale progressed recording a gain of Rs.30-50 per kg above their last auction prices, particularly for teas in the Below Best and Plainer category.  BOPFs too met with better demand and witnessed a gain of Rs.5-10 per kg. Shippers to CIS/Russia dominated the sale whilst selective buying from shippers to Japan, UK and the Continent were also evident.

CTC teas too followed a similar trend and gained Rs.10-20 per kg in most instances. Liquoring leafy teas were irregular with only select invoices realizing attractive prices. A significant feature at this week’s auction would be the premium realized for BOPs vis-a-vis BOPFs.

Low growns totalled 3.5 m/kgs in the Leafy/Tippy catalogues this week. There was good demand particularly towards the latter part of the sale. In the Leafy catalogues better BOP1s/OP1s gained Rs.5-10 per kg.

Clean below best types too were generally firm to dearer. Pekoes too particularly the bolder types gained Rs.5-10 per kg. High priced Pekoe/Pekoe1s however were mostly irregular and lower. Clean OP/OPAs were firm to dearer whilst the teas at the lower end gained Rs.5-10 per kg and more towards the close.  In the Tippy catalogues better FBOP/FF1s sold around last levels. A fair cross section of clean below best types sold at firm to irregularly dearer rates particularly towards the close. Neat leaf Tippy invoices too met with improved demand and gained on last. There was good demand from CIS, Turkey, Iran, Dubai, Saudi Arabia and Kuwait.

From Ceylon Tea Brokers

This week’s auction offerings totaled approximately 6.1 m kgs. Ex estate totaling 0.7 m kgs met with good demand. Western BOPS all round gained Rs.20 – 30 per kg however, Nuwara Eliyas sold irregularly lower.

Uva/Udapussellawas gained Rs.15 - 30 per kg and more. In the BOPFs category except for Best western BOPFS which declined Rs.5 - 10 per kg. Below best together with the plainer sorts sold Rs.5 – 10 per kg dearer. Nuwara Eliyas / Uva/Udapussellawas gained Rs.5 – 10 per kg.

In the CTC category High & Mid grown BP1S sold Rs.10 – 20 per kg dearer. However, Low grown BP1S sold irregular. The High / Mid & Low grown PF1S gained Rs.10 – 15 per kg.

In the High & Medium leafy category PEK/PEK1S along with FBOP/FBOPF1S gained Rs.5 – 10 per kg. OPAS sold irregularly lower.

Low Growns comprising approximately 3.4 m kgs in the Leafy & Tippy catalogues met with good demand. The select best BOP1/OP1S sold dearer whilst others gained Rs.5 – 10 per kg. The high priced OP/OPAS sold easier however, a selection of below best sorts sold irregularly dearer.

The high priced PEK/PEK1S sold irregularly lower, however, the below best PEK S were firm to dearer. In the small leaf Tippy catalogues select best FBOPS sold firm to Rs.10 dearer.  Below best sorts gained Rs.5 – 10 per kg. Best tippy types appreciated by Rs.10 – 15 per kg and the below best too appreciated by a similar margin. Select best FF1S maintained however, Below best category were firm to Rs.10 dearer. Teas at the bottom appreciated Rs.20 per kg and more.