Home / Agriculture/ Tea auctions this week

Tea auctions this week


Comments / {{hitsCtrl.values.hits}} Views / Friday, 25 May 2018 00:00


By Forbes and Walker 

Tea Brokers

The 20th sale of the year, which concluded yesterday, had a total of 7.93M/kg on offer. 

There was fair demand mostly at easier rates. Ex-Estate offerings were fairly large and totalled 1.5M/kg. Better Western BOPs declined by Rs. 20-30 per kg and more for last week’s high priced teas. The corresponding BOPF had on offer a few select invoices which gained substantially whilst the majority declined by Rs. 20-40 per kg and more following quality. 

In the below best category, a selection of BOPs gained Rs. 20-40 per kg following special inquiry whilst the corresponding BOPF declined up to Rs. 50 per kg. Plainer BOPs were irregular whilst corresponding BOPF - clean leaf teas up to Rs. 50 per kg easier, others Rs. 20-30 per kg easier. 

Nuwara Eliyas too were mostly lower following quality. Uva/Udapussellawa BOP/BOPF declined by Rs. 20-50 per kg. CTC teas were also lower by Rs. 20 per kg and more. Liquoring leafy teas continued to be neglected.

A salient feature of the sale was the strong demand for the limited availability of BOPs which are now commanding a premium of Rs. 30-50 per kg over their corresponding BOPF in most instances. It would also be relevant to note the bottom of the market for BOP/BOPF, which has settled between Rs. 500 and Rs. 520 per kg, is in keeping with the corresponding levels of last year. Notwithstanding, approximately a 5% depreciation of the SLR.

Low Growns totalled 3.1M/kgs in the Leafy/ Tippy catalogues. There was fair demand at lower levels. In the Leafy catalogue, a limited selection of well-made BOP1/OP1s maintained whilst others were irregular and lower. OP/OPAs too were generally lower by Rs. 5-10 per kg and more, particularly where quality was not maintained. Select best PEK/PEK1s were firm whilst others were barely steady. 

In the Tippy catalogue too, a select range of well-made FBOP/FF1s maintained while others were mostly lower. At the lower end too prices were generally lower to last by Rs. 10-15 per kg and more for the teas that did not maintain leaf style. 

In the Premium catalogue, a select range of well-made teas maintained whilst others were mostly lower to last. There was good demand from shippers to CIS, Turkey, Saudi Arabia, Iraq, Libya and Dubai.


Share This Article


DISCLAIMER:

1. All comments will be moderated by the Daily FT Web Editor.

2. Comments that are abusive, obscene, incendiary, defamatory or irrelevant will not be published.

3. We may remove hyperlinks within comments.

4. Kindly use a genuine email ID and provide your name.

5. Spamming the comments section under different user names may result in being blacklisted.

COMMENTS

Today's Columnists

Singapore miracle – How SL could benefit from trade with Singapore

Monday, 20 August 2018

According to a media report released by President’s Media Division, a committee of experts has been appointed by the President to examine and report on ‘the practical impact and use of the proposed officer policy guidelines and recommendations on


High NPAs in SME sector: Who is responsible?

Monday, 20 August 2018

Non-Performing Assets (NPAs) of the banking sector have been increasing in the recent past. Gross NPA ratio reached about 3.3% as at end of May2018 recording an increase of about 0.8% over the past five months.


DMK Chief “Kalaignar” Karunanidhi excelled as a Tamil film script writer

Saturday, 18 August 2018

Muttuvel Karunanidhi, known to the Tamil-speaking world as “Kalaignar” (artiste), passed away at the age of 94 in Chennai on 7 August. Karunanidhi had been Chief Minister of India’s Tamil Nadu state for a total of 19 years. He was Chief Ministe


Bangladesh could be a happy hunting ground for Lankan entrepreneurs

Saturday, 18 August 2018

Bangladesh has traditionally been hospitable to Sri Lankan entrepreneurs and fortunately, the traditional friendliness has not given way to arrogance with the country’s growing prosperity. This was acknowledged at a meeting of Sri Lankan entreprene


Columnists More