Disappointing sale for low growns at this week’s tea auction

Friday, 27 January 2012 00:28 -     - {{hitsCtrl.values.hits}}

Overall auction quantities showed no change and totalled a 7.2m/kgs. Low Growns witnessed a disappointing sale, whilst, the High and Mid grown small leaf teas met with reasonably good demand.

Ex-Estate offerings too, were similar to last and totalled a 1.2m/kgs. Quality, particularly, of the Westerns were selectively improved. Consequently, these improved teas gained Rs. 10-20 per kg and more following airmail enquiry. Indeed encouraging.

All other BOP/BOPFs were firm and gained a Rs. 5-10 per kg. Overall price structure for CTC’s showed no significant change and could be considered a disappointing feature of this week’s auction. There was good demand from shippers to the CIS together with Japan and UK. Next week a more improved selection of Westerns is on offer with select invoices showing signs of seasonal character.

Low Growns comprised of 3.6m/kgs in the Leafy/Tippy catalogues. In the Leafy catalogue, better made OP/OPAs declined Rs. 5-10 per kg and more. There was good demand however for the teas at the lower end with prices being fully firm to dearer.

OP1/BOP1s too were mostly lower to last. PEKs were easier Rs. 5-10 barring a select range of below best PEK which held firm. In the Tippy catalogue too FBOP/FBOPF1’s were easier. Here again teas at the lower end were firm to dearer. High priced Tippy invoices too were easier. A select range of well made neat leaf sorts however maintained last levels. CIS, Turkey, Dubai, Saudi Arabia, Kuwait together with Iraq were active this week. (Source: Forbes and Walker Tea Brokers)