Tea auction this week

Saturday, 26 February 2011 00:01 - - {{hitsCtrl.values.hits}}

This week, a total of 6.6 m/kgs came under the hammer. There was good demand at irregular rates following quality.

Ex-estate offerings totalled 1.1 m/kgs which comprised of a fair selection of useful Westerns, although quality tended irregular.

It was encouraging to witness an upward movement in prices for a select range of the seasonal quality Westerns following airmail inquiry. The demand for the Below Best and Plainer quality teas commenced on a hesitant note and prices were firm to Rs.5-10 per kg lower on last week’s levels and closed on an irregularly firm note. CTC BP1s witnessed much improved demand and consequently gained Rs.20-30 per kg. PF1s were mostly firm. Liquoring leafy teas particularly the teas from the Nuwara Eliya region sold at attractive prices ranging from Rs.500 to Rs.700 per kg. Low growns comprised of 3.4 m/kgs in the Leafy/Tippy catalogues. There was good general demand. In the Leafy catalogues OP/OPAs were fully firm to dearer. Pekoes too maintained last levels. Better BOP1/OP1s were easier; however, others sold around last levels. In the Tippy catalogues a selection of better FBOP/FF1s were firm to dearer, others were barely steady. Cleaner secondaries too maintained whilst teas at the lower end were fully firm to dearer. Well made Tippy invoices particularly the small leaf types were barely steady, others sold around last levels. There was good demand from CIS, Turkey, Dubai, Iran, Kuwait, Saudi Arabia and Iraq.

(Forbes & Walker Tea Brokers weekly tea market update)