Good demand at tea auctions this week

Thursday, 5 September 2013 00:00 - - {{hitsCtrl.values.hits}}

A total of 6.2M/kgs came under the hammer this week. There was good demand. Ex-estate offerings which totalled a 0.8M/kgs comprised of a limited selection of better Westerns and a fair selection of seasonal quality teas from the Uva planting districts. Teas from the Nuwara Eliya Planting districts were irregular and showed no significant change. Best westerns where quality was maintained appreciated by Rs. 20 per kg and significantly more on select invoices following air mail enquiry. The corresponding BOPFs were firm and often easier. Other improved BOPs also appreciated Rs.10-20 per kg and more whilst the corresponding BOPFs were firm to Rs. 10 per kg lower. Nuwara Eliya BOPs appreciated by Rs. 20 per kg on average whilst BOPFs declined by a similar margin. Seasonal quality teas from the Uva planting districts continued to sell well at irregular rates following airmail enquiry. Other BOPs witnessed some renewed interest and gained up to Rs. 30 per kg and more, whilst the corresponding BOPFs appreciated Rs. 10-20 per kg. CTC teas also appreciated by Rs. 10-20 per kg in most instances and indeed an encouraging feature considering the lower trend in prices at this week’s Mombasa tea auction. Shippers to UK, Japan and the Continent were more active on a cross section of the better liquoring teas whilst shippers to CIS continued to be quite active on a wide cross section of the teas on offer. Low growns comprised of 3.2M/kgs at this week’s sale. There was good demand all round. In the tippy catalogue, FBOP/FF1s were fully firm to dearer with the select best in particular gaining substantially. Tippy invoices too met with improved demand and prices were dearer to last. At the lower end too, prices were fully firm to dearer. In the leafy catalogue BOP1/OP1s were fully firm to dearer. Here again a range of improved teas gained substantially. PEK/PEK1s too were fully firm with the bolder types gaining Rs. 10-20 per kg at times. OP/OPAs too were fully firm to dearer with the bottom end of the market attracting good demand. Shippers to CIS, Turkey, Dubai, Kuwait, Iraq and Saudi Arabia were active. (Source: Forbes and Walker Tea Brokers)

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