Thursday, 6 November 2014 00:00
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By Forbes and Walker Tea Brokers
This week’s auction offerings recorded an increase and totalled a 7.4M/Kgs. There was fair demand mostly at lower levels.
Ex Estate offerings comprised 1.1M/Kgs. Overall the quality of teas from the Western planting districts showed a general decline while teas from other growing regions showed no significant change. Consequently, best Western BOP/BOPF’s declined up to Rs. 20 per kg and more following quality.
In the below best category, BOP’s were firm whilst the corresponding BOPF declined Rs. 20-30 per kg and at the lower end market BOP’s were irregularly firm whilst BOPF declined Rs. 10-15 per kg.
Nuwara Eliya BOP/BOPF lost Rs. 10 per kg on average. Udapussellawa BOP sold around last levels while the corresponding BOPF declined Rs. 10 per kg.
Uva BOP/BOPF declined Rs. 10-20 per kg. High and Medium Grown CTCs followed a similar trend and were up to Rs. 20 per kg easier in most instances, while the corresponding Low Grown types declined by Rs. 20-40 per kg. The limited availability of liquoring leafy teas met with irregular demand with only invoices supported by airmail bids realising attractive prices.
Shippers to the CIS continued to be reasonably active although at lower levels which is possibly reflective of the limited buying power due to the significant depreciation of the Russian rouble in the recent past. Interests from the UK and the continent were also limited possibly following the decline in quality, while there was fair demand from Japan.
Low Grown’s comprised approximately 3.7M/kgs in the Leafy/ Tippy catalogues this week. There was fair demand but at lower levels. In the Leafy catalogue better OP1’s/ BOP1’s sold around last levels. Others were lower following quality. A few select best PEK/PEK1’s too maintained. Here again others declined Rs.5-10 per kg and more while, better OPs were firm to irregularly dearer. Others and OPA’s were easier Rs.5-10 per kg. At the lower end, however, a few cleaner types maintained.
In the Tippy catalogues, with the exception of a few select best FBOP/FBOPF1’s that maintained, all others declined. At the lower end, however, cleaner types generally maintained last levels. Tippy invoices sold well and were fully firm to irregularly dearer. Shippers to Turkey, Dubai, Iraq, Kuwait and Saudi Arabia were active while shippers to CIS were very selective.
