Tea auctions this week

Friday, 12 February 2016 00:00 - - {{hitsCtrl.values.hits}}

By Forbes and Walker

Tea Brokers

This week a total of 6.6M/Kgs came under the hammer. There was fair demand. The feature of the sale was the strong demand for teas at the lower end of the market which may auger well for the “demand” for tea in the forthcoming sales.

In the Ex-Estate catalogues overall offerings were marginally lower to last and totalled a 0.9M/Kgs against a 1.0M/Kgs on offer last week. Quality of teas from the Western and Nuwara Eliya Planting Districts were generally improved, whilst teas from the Uva/Udapussellawa regions showed no significant change.

Best Western BOP/BOPFs appreciated irregularly following airmail inquiry, whilst in the below best category select improved BOPs gained Rs. 10-20 per kg whilst others declined by a similar margin. The corresponding BOPF’s, which commenced up to Rs. 20 easier, firmed up as the sale progressed.

Plainer BOPs were mostly firm, whilst the corresponding BOPFs followed a similar trend and sold around last week’s levels by the close. High and Medium Grown CTC BP1s were often Rs. 10-20 per kg dearer, whilst the corresponding PF1s were irregular following quality.

Low Growns were generally firm around last. A wider selection of liquoring leafy teas were on offer which met with improved widespread demand and consequently appreciated sharply in value; prices for these teas ranged between Rs. 600 and Rs. 2,000 per kg.

There was less interest from the UK and South Africa, improved interest from Japan and China/Hong Kong whilst Shippers to CIS were active at lower levels.

Low Growns totalled 3.4M/kgs in the Leafy/ Tippy catalogues. There was fair demand. In the Leafy catalogue select best together with clean/ improved below best BOP1/OP1s maintained. Others were irregularly lower particularly following quality.

Better OPs were barely steady whilst a range of better OPAs were fully firm. At the lower end both OP/OPAs met with good demand and were fully firm. Select range of better PEK/PEK1s too maintained last levels whilst others were mostly lower to last. Here again at the lower end prices were mostly firm.

In the Tippy catalogue select best FF1s together with the cleaner below best types were firm. FBOPs were mostly lower barring a range of clean below best types that maintained. At the lower end prices were mostly irregular and lower.

In the Premium catalogue too, a select range of Leafy FFSp/FFExSp maintained. Others were irregular and lower. Shippers to Turkey, CIS, Dubai, Iraq, Saudi Arabia and Kuwait were active this week.