Home / Agriculture/ Lower quantity but good demand at this week’s tea auctions

Lower quantity but good demand at this week’s tea auctions

Comments / {{hitsCtrl.values.hits}} Views / Thursday, 31 August 2017 00:00

By Forbes and Walker Tea Brokers

This week’s total auction quantity recorded a significant decline over last week and totalled 6.1M/kgs vis-à-vis 7.3M/kg on offer the previous week. 

There was good demand. Ex-Estate offerings showed a marginal decline and totalled 0.8M/kg vis-à-vis a 0.9M/kg on offer the previous week. The quality of offerings from the Western/Udapussellawa planting districts was fairly similar to last week whilst teas from the Nuwara Eliya and Uva region were generally improved. Amidst these teas from Uva a small selection of teas from the Malwatte Valley region showed fair improvement in seasonal quality and flavour. Consequently these flavoury invoices realised some attractive prices, establishing three new all-time record prices. See table for details.

Best Western BOP’s - where quality was improved appreciated up to Rs. 20 per kg whilst the corresponding BOPF were irregular following quality. In the below best category BOP’s were mostly firm whilst corresponding BOPF - select brighter invoices Rs. 10 per kg dearer, others firm. Plainer BOP/BOPF’s mostly sold around last week’s levels. Nuwara Eliya’s appreciated Rs. 20-40 per kg following improved quality. Uva seasonal teas continued to sell well whilst prices fluctuated following quality and overseas bids other Uva/Udapussellawa BOP/BOPF’s were firm up to Rs. 20 per kg dearer. CTC BP1’s appreciated up to Rs. 20 per kg in most instances whilst corresponding PF1’s sold around last week’s levels with the exception of teas from the Western region which declined by a similar margin.

There was fair demand from shippers to CIS and China whilst shippers to UK, the Continent and Japan were selective following quality.

Low Growns totaling 3.2M/kgs in the Leafy/Tippy catalogues met with good demand. In the Leafy catalogue OP1/BOP1’s sold at fully firm to dearer rates whilst OP/OPA’s too were mostly firm. PEK/PEK1’s too were fully firm to dearer with the below best and the bottom end PEK1’s gaining Rs. 10-20 per kg and more. In the Tippy catalogue too select best FBOP/FF1’s were fully firm to dearer whilst the cleaner secondaries gained Rs. 10-20 per kg. At the lower end too cleaner types gained Rs. 10-20 per kg and more. In the premium catalogue well-made teas gained whilst others too were fully firm to dearer. There was good demand from shippers to Dubai, Turkey, CIS, Saudi, Iraq and Kuwait.  

Share This Article


Today's Columnists

Mangala’s Mangala Budget – Part 2: Go for reforms but permanently fix the country’s rising debt prob

Monday, 20 November 2017

Mangala’s Mangala Budget was approved in its Second Reading by a two-thirds majority in Parliament last week.

Improving the quality of policy proposals in the Budget

Monday, 20 November 2017

Every Budget Speech includes complex policy measures. Given the traditions associated with the Budget Speech, it is not possible to conduct public consultations on each of the measures beforehand.

Today’s bonding with Bhagavad-Gita

Monday, 20 November 2017

We live in times of moral complexity. Whose deed is more pernicious, a burglar raiding the vault or the cop who wipes away the burglar’s fingerprints?

Is Iran a threat to global peace?

Saturday, 18 November 2017

The aim of this article is to explore Iran’s nuclear program and its consequences throughout the world. Iran one of the nuclear power countries in the Middle East, which has brought very grave concern to the US.

Columnists More