Good demand at Tea auctions this week

Friday, 2 February 2018 00:00 - - {{hitsCtrl.values.hits}}

By Forbes and Walker Tea Brokers

The fifth sale of the year concluded on Tuesday had on offer a total of 7.2M/Kgs. There was good demand.

Ex-Estate offerings which totalled approximately 1M/Kgs comprised of a few improved seasonal teas. Best Western BOPs where quality was improved gained Rs.20-30 per kg and substantially more for select invoices following special inquiry.

Corresponding BOPF gained Rs. 20-40 per kg and more on select invoices. BOPs in the below best category were irregular and often difficult of sale whilst the plainer sorts sold around last levels.

Corresponding BOPF in general appreciated Rs.30-50 per kg. Nuwara Eliyas met with selective demand. BOPs were Rs.20-40 per kg lower whilst the corresponding BOPF had select invoices that appreciated substantially whilst the others were difficult of sale.

Udapussellawa BOPs firm whilst the BOPF were irregular following quality. Uva BOPs gained Rs.10-20 per kg and substantially more for select invoices whilst the corresponding BOPF were firm and Rs.10-20 per kg dearer.

High and Mid Grown CTC teas met with less demand and often were easier on last. BP1s Rs.30-40 per kg lower whilst the PF1s were barely steady. Low Growns were generally dearer by Rs.10-20 per kg.

In the backdrop of the weak market experienced last week – the recovery in prices and the aggressive buying by most markets were encouraging.

Low Growns totalled 2.5M/kgs in the Leafy/Tippy catalogues. There was good demand. In the Leafy catalogue high priced BOP1/OP1s were irregular and lower. Others however maintained last levels. Better PEK/PEK1s too were irregular. Balance were fully firm.

Better OP/OPAs too were irregular and lower. Others were fully firm to dearer. In the Tippy catalogue FBOP/FF1s were generally firm with the exception of a few teas where the quality was not maintained resulting in prices being lower.

At the bottom end too prices were generally firm to dearer. In the premium catalogue a selection of teas were fully firm to dearer. Others particularly the small leaf types were easier. There was good demand from shippers to CIS, Turkey, Dubai, Iraq, Libya, Saudi Arabia and Kuwait.