• Shippers to Turkey, Iraq, Saudi Arabia and CIS were active this week.
• Prices for most teas on offer strengthened due to sharp decline in availability in forthcoming sales and COVID-concerns

The tea trade is jubilant over the successful conduct and outcome of the weekly auctions which was rescheduled by a day amidst new coronavirus-mitigation centred special holidays. 

“Amidst much speculation, the tea auctions were concluded on a very satisfactory note with prices, particularly for the better teas, appreciating all-round,” Forbes and Walker Tea Brokers said.

This week’s auction was originally scheduled for 17/18 March but was re-scheduled for 18/19 March due to the uncertainties emanating from COVID-19. 

Forbes said Ex-Estate offerings continued to be maintained around last week’s levels at 0.8 M/Kgs. Overall, quality was barely maintained with a lesser availability of Western seasonal quality teas.

“Notwithstanding the quality factor, prices for most teas on offer strengthened (with the exception of the poorer sorts) possibly due to the sharp decline in availability in the forthcoming sales and the somewhat uncertain environment with the Government declaring a further duration of 6 days as a period to work from home,” Forbes added. 

It said Best Western BOPs, where quality was maintained, were firm and irregularly dearer with select invoices gaining substantially in value. The corresponding BOPFs too were firm and dearer, although select high priced teas failed to gather the same momentum as the corresponding BOPs.

In the Below Best category, brighter BOP/Fs gained Rs. 20-30 per kg, whilst the others were irregular following quality. At the lower end, clean leaf BOP/Fs were Rs. 10-20 per kg dearer. Others were irregular with the poor leaf types tending easier. 

Nuwara Eliyas – the limited availability of seasonal teas were readily absorbed at fairly attractive levels. Uda Pussellawas were easier and at times neglected following relatively uninteresting quality, whilst the Uvas were irregular.

High and Mid Grown CTCs – BP1s continued to be sluggish, whilst the PF1s – neat leaf coloury sorts were irregularly dearer. Others barely maintained last levels. Low Growns – BP1s were barely maintained, whilst PF1s were up to Rs. 20 per kg dearer selectively.

Low Growns comprised approximately 1.8 M/Kgs in the Leafy/Tippy catalogues. There was good demand. In the Leafy catalogue, OP1/BOP1s met with good demand and prices were mostly dearer to previous. 

Forbes said it was also noteworthy that a line of Pothotuwa BOP1 realised Rs. 1,900 per kg, thus realising the all-time record price for this grade. 

OPs too were fully firm to dearer, whilst Select Best OPAs maintained. Others were barely steady. At the lower end however, prices were dearer. PEK/PEK1s too were fully firm to dearer. In the Tippy catalogue FBOPs were fully firm to dearer particularly for the Select Best. Better FF1s maintained. Others were barely steady at the lower end, prices were fully firm to dearer. In the Premium catalogue, prices were fully firm to dearer barring a selection of teas that did not maintain quality. 

According to Forbes and Walker Tea Brokers, shippers to Turkey, Iraq, Saudi Arabia and CIS were active this week.

Auction quantities continue to show a sharp decline from Sale No. 12 onwards, which totalled 4.5 M/Kgs and Sale No. 13 a 3.9 M/Kgs – the lowest on record since April 2009.

Great Western Estate achieves new all-time record