Lower quantities, less demand at tea auctions

Friday, 4 October 2013 03:04 -     - {{hitsCtrl.values.hits}}

By Forbes and Walker Tea Brokers This week’s total auction offering declined to 6.4M/kgs from 6.7M/kgs in the previous week. High and mid grown small leaf teas met with less demand and declined Rs. 20 per kg on average, whilst low growns continued to meet good demand. Ex-estate offerings totalled a 1.2 M/kgs recording a marginal decline over last week’s auction quantity. There was less demand, however the limited availability of Western BOPs sold at firm to dearer rates with a few select best invoices gaining Rs. 20-30 per kg and more. BOPFs declined Rs. 20-30 per kg,  particularly as the sale progressed. Nuwara Eliyas were irregularly lower in most instances. Seasonal quality teas from the Uva/Udapussellawa planting districts declined further following lower quality. Other plainer/coloury BOP/BOPFs declined by an average of Rs. 20 per kg. The overall price structure for CTC teas witnessed a similar trend and declined Rs. 10-20 per kg with the exception of the corresponding low grown teas which appreciated Rs. 20 per kg. Liquoring leafy teas met with improved demand and appreciated quite shapely in value. There was strong buying from shippers to CIS whilst there appeared to be less interest from Japan, UK and the Continent. Low growns comprised of approximately 2.9M/kgs in THE LEAFY/TIPPY CATALOGUE THIS WEEK. There was good general demand. In the leafy catalogue BOP1/OP1s sold at fully firm to dearer rates. Better OP/OPAs too were fully firm to irregularly dearer. Others where leaf style was not maintained, prices were barely ready. PEK/PEK1s too met with good demand and were fully firm to dearer barring a selection of bold PEKs that were marginally lower. In the tippy catalogue too there was better demand for FBOP/FF1’s, resulting in prices gaining Rs. 10-15 per kg and at times more. Teas at the lower end too were fully firm to dearer. A select range of tippy invoices gained on last, whilst, others were fully firm. Shippers to Turkey, CIS, Dubai, Iraq, Kuwait and Saudi Arabia were active this week.