Tea auctions this week

Friday, 26 January 2018 00:00 - - {{hitsCtrl.values.hits}}

By Forbes and Walker

Tea Brokers

This week’s auction offerings totalled 7.5M/Kgs. A relatively large volume due to the accumulated quantities as a result of the absence of an auction during the Christmas holiday period.

Low Growns continued to meet with fair demand whilst the High and Mid Grown small leaf teas met with much less interest.

Ex-Estate offerings totalled a 1.2M/Kgs. The overall quality of teas on offer were reasonably maintained which comprised a few select improved invoices from the Western planting districts. The lack of demand this week was unexpected and unusual for the time of year particularly as we are approaching a lean cropping period. The majority of the Western BOP’s declined by Rs. 10-20 per kg and more for some of the brighter sorts. Corresponding BOPF - few select invoices were firm following special inquiry whilst the majority declined Rs. 20-30 per kg. Plainer sorts declined Rs. 20 per kg and more. Nuwara Eliya - BOPs were irregular whilst corresponding BOPF mostly remained unsold. Udapussellawa BOP/BOPF declined Rs. 10-20 per kg and Rs. 20-30 per kg respectively. Uva BOPs gained Rs. 10-20 per kg whilst corresponding BOPF declined by a similar margin. CTC teas witnessed better activity in comparison as a result the price variances were not so significant.

The main buyer for small leaf teas was noticeably less active. South Africa and Japan were selective whilst shippers to the CIS were fairly active at lower levels.

Low Growns comprised 3.5M/kgs in the Leafy/Tippy catalogues, a larger volume compared to the preceding sale. There was fair demand. In the Leafy catalogues BOP1/ OP1s sold at fully firm to marginally dearer rates whilst PEK/PEK1s too followed a similar trend. Better OP/OPAs were irregular, others particularly the bottom end teas met with good demand and prices were fully firm to dearer.

In the Tippy catalogues FBOP/FF1s were irregular and often lower. The cleaner secondaries too were in general easier to last. At the lower end cleaner teas were mostly firm, others were lower.

In the Premium catalogues select best together with a range of improved sorts were fully firm, whilst others were lower. There was good demand from shippers to CIS, Turkey, Iraq, Saudi Arabia and Dubai at this week’s sale.