Wednesday, 1 January 2014 09:23
By Forbes and Walker Tea Brokers
The year 2013 ended with 51 auctions, with the final sale for the year concluded on Monday – a one-day restricted sale, which had on offer 3.7 M/kgs. There was good general demand.
Ex-Estate offerings comprised 0.9M/kgs. Overall quality of teas from the Western Planting District barely maintained and was often lower to last, whilst teas from the other regions showed no significant change. Consequently, teas in the higher price bracket declined Rs. 10-20 per kg and more following quality, whist the encouraging feature was the strong demand at the lower end of the market resulting in a firm to marginally dearer trend in prices. CTC teas encountered a bearish sentiment, whilst liquoring leafy teas continued to attract good demand.
Shippers to the CIS remained fairly active, whilst other markets continued to be selective.
Low Growns totalled only 1.4M/kgs in the Leafy/Tippy catalogues compared to 3.3M/kgs of the preceding sale. There was good demand all around on account of the restricted quantity on offer.
In the Leafy catalogue BOP1/OP1s were fully firm to selectively dearer, whilst, PEK/PEK1s too maintained last levels with a selection of improved sorts gaining on last. OP/OPAs too were fully firm to dearer, barring a few poor leaf teas at the lower end which were barely steady.
In the Tippy catalogue too better FBOP/FF1s though irregular were fully firm, whilst the cleaner secondries together with the teas at the lower end were fully firm to dearer. Well made Tippy invoices too were fully firm to dearer.
Shippers to Turkey, CIS, Dubai and Kuwait were active, whilst shippers to Iraq too were active but to a lesser extent.