Tea auction this week

Thursday, 24 January 2013 00:53 - - {{hitsCtrl.values.hits}}

The fourth Auction which concluded today had on offer a total of 7.7M/kgs. There was good general demand.

Ex-Estate offerings recorded a fairly significant increase over last week’s volume and totalled a 1.6M/kgs. The overall quality of teas on offer were much lower to last. Consequently, prices declined by Rs.10-20/- per kg and more as the sale progressed – particularly for the BOPF’s. The BOP’s in the fair average quality category which lost out fairly significantly last week, took a correction and gained up to Rs.20/- per kg – thus, recording a welcome narrowing for the parity between these two grades.

A feature of the sale was the distinct categorization in the price structure for the better teas vis-à-vis the below best/plainer sorts. No doubt an encouragement for those Producers of better quality teas. The overall undertone for CTC teas were better, which resulted in these teas declining by a lesser margin. The select availability of liquoring leafy teas once again, realized some attractive prices.

There appeared to be much less interest from Pakistan whilst Shippers to the CIS were fairly active on a wide cross section of the teas. Japan showed a little more interest this week, whilst UK and Continent continued to be selective.

Low Growns comprised of a slightly larger volume of 3.7M/kgs in the Leafy/Tippy catalogue this week. There was good demand all around. In the Leafy catalogue BOP1/OP1’s were firm, whilst OP/OPA’s were irregular and lower. High priced PEK’s were barely steady. Others were however firm. In the Tippy catalogue, select best FBOP’s were irregular and lower whilst others and the cleaner secondaries maintained. FF1’s too were fully firm on last. Well made Tippy invoices were easier. A selection of cleaner below best was however, fully firm to dearer. There was good demand from Shippers to CIS, Turkey, Iraq, Saudi Arabia, Kuwait together with Dubai. (Source: Forbes and Walker Tea Brokers) .