Forbes and Walker Tea Brokers’ View

Friday, 11 March 2011 01:28 - - {{hitsCtrl.values.hits}}

Tea auction this week

This week’s auction offerings declined to a 5.5 m/kgs. There was fair general demand at irregular rates.

The availability of Ex-estate offerings showed no significant change and totalled 0.9 m/kgs. The limited availability of brighter liquoring teas were absorbed at firm to irregularly dearer rates following quality and airmail inquiry, whilst all other BOPs/BOPFs declined Rs.5 per kg and Rs.5-10 per kg respectively.

The encouraging feature of the sale was the dramatic improvement in prices of Nuwara Eliya teas and that too particularly the BOPF invoices which gained by Rs.40-50 per kg towards the closure of the sale. CTC BP1s were mostly lower whilst the PF1s witnessed a firm to dearer trend. Liquoring leafy teas continued to meet good demand and sold at attractive levels.

Low growns comprised of 2.9 m/kgs in the Leafy/Tippy catalogues. Tippy teas met better demand this week. Well made FBOP/FF1s were fully firm to dearer. Cleaner secondaries too were dearer to previous. Well made Tippy invoices too gained on last. At the lower end too there was better demand resulting in most teas gaining on last. In the Leafy catalogues OP/OPAs declined Rs.10-15 per kg. BOP1s too were lower. Pekoes commenced irregular but firmed up towards the close. At the lower end cleaner teas maintained last levels, others were lower to previous. There was good demand from CIS, Turkey, Iran, Kuwait, Syria whilst the others too were active but to a lesser extent. (Forbes and Walker)

Ceylon Tea Brokers’ view

This week’s auction totalled a quantity of 5.5 m kgs. Ex estate met with good general demand. In the

BOP category, teas which maintained quality sold at dearer rates following airmail inquiry however, others were irregularly firm. In the BOPFs category teas with quality maintained last week’s levels and at times sold at dearer rates however, others sold firm to last. In the CTC category BP1s sold Rs.10 – 20 per kg lower allround however, the corresponding PF1s sold Rs.5 – 10 per kg dearer.

Low Growns comprising approximately 2.8 m kgs witnessed an irregular demand. Better BOP1s continued to decline whereas the best sold around Rs.580 levels. Better OP1s continued to sell well and were at times dearer. High priced OP/OPAs were irregular and mostly lower where the best sold around Rs.510 levels. High priced PEK/PEK1s sold irregular however, others commenced Rs.5 – 10 easier but gained as the sale progressed.

The small leaf tippy catalogues met better demand than the leafys where select best FBOPs as well as the below best gained Rs.10 -15 per kg. Well made tippy teas attracted good demand. Teas in the below best category gained Rs.20 per kg and more. Select best FF1s gained Rs.10 per kg and more as the sale progressed. Teas at the bottom were dearer by Rs.5 - 10 per kg.