Fair demand at tea auctions

Thursday, 13 August 2015 00:00 - - {{hitsCtrl.values.hits}}

By Forbes and Walker Tea Brokers

This week’s auction quantity increased to 7.5 M/Kgs from 6.9 M/Kgs in the previous week. There was fair demand.

Ex-estate offerings showed an increase over last week and totalled a 1.2 M/Kgs. Overall the quality of teas on offer were irregular. Best Western BOP’s were irregular following quality whilst the corresponding BOPF’s recorded a decline of Rs. 20 per kg on select high priced teas of last week. In the below best and plainer categories, prices for teas were irregular following quality. Nuwara Eliya’s witnessed a better demand and consequently select improved BOP invoices gained substantially in value whilst corresponding BOPF’s gained Rs. 20 per kg on average.

Udapussellawa’s were once again irregular following quality. Seasonal teas from the Uva Planting Districts appreciated sharply in value following airmail inquiry whilst others gained Rs. 10 per kg on average. High and Medium Grown CTC teas witnessed a firm to dearer trend subject to quality whilst the Low Growns were often Rs. 10-20 per kg lower. Liquoring leafy teas continued to meet with limited interest and prices for these teas ranged between Rs. 400 per kg to Rs. 700 per kg.

Low Growns totalled 3.6M/kgs in the Leafy/Tippy catalogues. In the Leafy catalogue select best OP1/BOP1’s were irregularly lower. Others were fully firm. Better OP/OPA’s too were barely steady. Here again others and the clean below best maintained. However, at the lower end poorer types declined Rs. 10-15 per kg. Better PEK/PEK1’s together with the bold PEK’s sold at firm to irregularly dearer rates whilst others commenced around last levels but declined as the sale progressed.

In the Tippy catalogue a few select best FBOP’s maintained. Others were barely steady. FF1’s too were irregularly lower. Select best Tippy teas were firm whilst the others were irregular. This week shippers to CIS, Dubai, Turkey, Saudi Arabia and Iraq were active.