Mixed taste at tea auctions this week

Friday, 8 August 2014 00:26 - - {{hitsCtrl.values.hits}}

By Forbes and Walker Tea Brokers The 30th sale of year concluded this week and had on offer a total of 7.4M/kgs. Low Growns met with less demand, whilst the High an dMid Grown small leaf teas witnessed improved demand – particularly for the better teas. This week’s Ex-Estate offerings recorded a marginal decline in volume and totalled 1M/kgs. Overall quality of the offerings showed an improvement and consequently better demand was witnessed. Best Western BOPs appreciated by Rs. 20 per kg and more following airmail enquiry. The corresponding BOPFs sold well although at irregular rates following quality. In the below best category too, improved BOPs appreciated irregularly and at times sharply following airmail enquiry, whilst the others together with the plainer sorts gained Rs.5-10 per kg. The corresponding BOPFs witnessed an improvement of Rs.10 per kg on the brighter invoices, whilst the others sold around last week’s levels. Teas from the Nuwara Eliya planting districts also witnessed a firm to dearer trend. Uvas which showed an improvement in the seasonal quality – appreciated quite sharply following airmail enquiry. The others were irregular and at times difficult of sale. Coloury Uvas/Udapussellawas were irregularly firm. Liquoring leafy teas met with improved demand and appreciated quite substantially following quality. High and Mid Grown CTCs met with limited interest, mainly following the poor quality on offer. All in all an encouraging sale, particularly for the better liquoring teas. Shippers to the CIS continued to be fairly active on a cross section of the teas whilst there was improved interest from UK, Japan and the Continent on a selection of the improved teas. Interest from South Africa appeared selective. Low Growns comprised of 3.6M/kgs in the Leafy/Tippy catalogues this week. There was fair demand at lower levels. In the Leafy catalogue select best OP1s were firm. Others and BOP1s were irregularly lower by Rs. 10-15 per kg. Better OP/OPAs too were firm to marginally lower, whilst, others declined Rs. 10-15 per kg with the teas at the lower end of the market declining further towards the close. Most PEK/PEK1s sold around last levels barring the teas at the lower end which were easier Rs.5-10 per kg. In the Tippy catalogue a few select best FBOP/FF1s were firm whilst others declined Rs. 10-15 per kg. Here again teas at the lower end declined further, particularly towards the close. Well-made Tippy invoices though irregular were firm, whilst others were barely steady. Shippers to Turkey, Dubai, CIS and Iraq together with Kuwait were active this week.