Tea auctions this week

Friday, 3 March 2017 00:00 - - {{hitsCtrl.values.hits}}

By Forbes and

Walker Tea Brokers

This week’s Auction offerings totalled a 4.8M/kgs recording a fairly sharp decline on the previous week’s offerings of 5.8M/kgs. Low Growns continued to meet with good demand whilst majority of the High and Medium Grown small leaf teas witnessed an easier trend.

Ex-Estate offerings totalled a 0.7M/kgs vis-à-vis 0.9M/kgs on offer the previous week. Quality of offerings from the Western Planting districts showed an improvement whilst the others were mostly similar to last. Notwithstanding the better quality of teas on offer there was less demand all around and consequently, most teas sold at easier rates.

Best Western BOPs – few select invoices appreciated following special inquiry whilst the others were irregular and mostly easier. Corresponding BOPFs declined Rs. 20 per kg and more for last week’s select high priced teas. In the below best category brighter BOPs declined up to Rs. 20 per kg whilst the others gained by similar margin. Plainer BOPs were up to Rs. 20 per kg easier whilst the corresponding BOPFs in the below best and plainer categories which commenced Rs. 10-20 per kg and Rs. 20-30 per kg easier respectively were lower to a lesser extent by the close.

Nuwara Eliya BOPs were irregularly easier. Corresponding BOPFs had a few select invoices that appreciated substantially whilst the majority sold around last week’s levels. Udapussellawa BOPs were firm and up to Rs. 10 per kg lower whilst the corresponding BOPFs gained Rs. 10-20 per kg. Uva BOPs declined Rs. 10-20 per kg whilst the corresponding BOPFs were mostly firm.

High and Medium Grown CTC BP1s were mostly Rs. 10-20 per kg dearer whilst the corresponding PF1s were firm and appreciated selectively by Rs. 10-20 per kg. Low Grown BP1s gained Rs. 10 per kg whilst PF1s mostly sold around last week’s levels. Liquoring leafy teas met with limited interest and prices ranged from Rs. 600-1,000 per kg.

Low Growns totalled 2.4M/kgs in the Leafy/Tippy catalogues, a slightly lower volume compared to the proceeding sale. There was good demand all-round. In the Leafy catalogue better OP1/BOP1s gained Rs. 10-20 per kg. Others too were fully firm to dearer. Better PEK/PEK1s though irregular were firm. All others were however fully firm to dearer. Select best OP/OPAs were barely steady. Balance were fully firm to dearer.

In the Tippy catalogue too better FBOP/FF1s gained Rs.10-15 per kg whilst others were fully firm to dearer. At the lower end too prices were fully firm to dearer. In the Premium catalogue, a select range of teas gained whilst others maintained. There was good demand from Turkey, Dubai, Iraq, Kuwait, Saudi Arabia and CIS.