Thursday, 20 June 2013 00:46
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Forbes and Walker Tea Brokers said most High Growns on offer at this week’s auctions continued to witness a buoyant market – whilst Low Growns witnessed a mixed sentiment.
Auction offerings totalled 7.9M/kgs.
This week’s Ex-Estate offerings were mostly lower and totalled 1.2M/kgs. Overall quality of teas on offer showed no significant change. Nevertheless, there was better demand and consequently, most teas appreciated Rs.10/- per kg and more. The CTC varieties and the liquoring leafy teas were the only exception where prices were firm to easier – with the latter in particular being difficult of sale.
Shippers to the CIS and the Continent continued to absorb a fair cross section of the teas on offer together with Shippers to Japan, South Africa, Forbes said.
Low Growns comprised of 3.3M/kgs in the Leafy/Tippy catalogues this week. There was fair demand. In the Leafy catalogue better OP/OPA’s were firm, whilst, others were irregular. At the lower end however, there was good demand and the prices were fully firm. OP1’s too were mostly firm whilst, BOP1’s were lower with the exception of the teas at the lower end that held firm. Better PEK/PEK1’s were firm, whilst, others were lower, particularly for the teas at the lower end. In the Tippy catalogue too, a fair cross section of best/below best FBOP/FF1’s were firm. Others were lower following quality. At the lower end too prices declined Rs.10-15/- per kg. Well made Tippy invoices too sold well with a select range of teas gaining on last.
“There was good demand from CIS, Turkey, Iraq and Kuwait, whilst, Dubai and Saudi Arabia too were active,” Forbes and Walker Tea Brokers added.
Box
Tea crop in May nudges up
Tea production for the month of May 2013 had increased by 0.96 million kilos to 33.6M/kgs vis-à-vis 32.7M/kgs of 2012, Forbes and Walker Tea Brokers said quoting official data.
It said Low Growns have shown a fairly significant gain YOY, whilst, Mid Growns have been static. High Growns on the other hand has shown a decline vis-à-vis 2012.
Production for the period January – May 2013 totalled 148.9m/kgs, showing a gain of 11.2M/kgs or 8.1% vis-à-vis 137.6M/kgs of 2012.On a cumulative basis all elevations show a growth vis-à-vis 2012 as detailed in page No.10.
