Good demand at 2010’s final tea auctions

Thursday, 23 December 2010 01:20 - - {{hitsCtrl.values.hits}}

The 50th and the final tea auctions for the year concluded yesterday had seen good demand, Forbes and Walker Tea Brokers said.

The auction had 7 million kilos on offer.

Forbes said ex-estate offerings were maintained around last and totalled a 1.2 m/kgs. Quality showed no change with a limited selection of good liquoring teas on offer. There was good demand although at slightly lower levels with the exception of teas at the lower end of the market which sold around last week’s levels.

“Consequently, the difference between the Below Best and Plainer teas have now narrowed considerably. Whilst the non-differentiation would be discouraging to the producers of better teas the current price levels in general would certainly be encouraging. The better teas witnessed fair demand from shippers to Japan whilst the CIS continued to bid strongly on a wide cross section of the teas. Shippers to UK and the Continent appeared to be less active possibly on account of the Christmas/New Year holiday period,” Forbes said.

Low growns comprised of approx. 3.2 m/kgs this week. There was good demand. In the Tippy catalogues well made neat leaf FBOP/FF1s were fully firm to Rs.10 per kg dearer. Cleaner secondaries too gained by a similar margin. Well made FBOPFs too were fully firm to irregularly dearer. At the lower end too there was wide spread demand and prices were dearer to last particularly in respect of cleaner teas. In the Leafy catalogues too, a select range of BOP1s gained on last. Better OP1s were generally firm. Barring the well made OP/OPAs which were barely steady, others were fully firm whilst the Pekoes too were fully firm with the bolder Pekoes gaining Rs.5-10 per kg on last. There was good demand from CIS, Turkey, Syria, Iran, Dubai and Saudi Arabia.