Tea auctions this week

Friday, 11 August 2017 00:00 - - {{hitsCtrl.values.hits}}

By Forbes and Walker

Tea Brokers

As the industry celebrated 150 years of Ceylon Tea, an international tea convention is scheduled to commence on 9 August.

Accordingly, the weekly tea auctions were rescheduled as a one-day restricted sale with a quantity of 4.4 M/kgs.

This week’s Ex-Estate offerings totalled 0.8 M/kgs. The quality of teas from the Western, Nuwara Eliya and Udapussellawa planting districts showed no significant change whilst teas from the Uva planting districts showed an improvement with a selection of teas from the Malwatte region possessing some seasonal character. These seasonal teas attracted some useful support and sold in the price range of Rs. 700-1,200 per kg. Teas from the Western growning regions met with less demand and consequently an irregular to weaker trend, possibly a combination of irregularity in quality and the advancement of the auctions.

Best Western BOP’s declined by Rs. 10-30 per kg whilst corresponding BOPF which were irregular at the commencement were up to Rs. 20 per kg lower by the close. Western BOP’s in the below best and plainer categories were irregular and barely steady with their corresponding BOPF declined Rs. 10-20 per kg. Nuwara Eliya – BOP’s were irregularly easier following quality whilst corresponding BOPF were barely steady. Udapussellawa’s were irregular following quality. Uva’s - BOP’s gained Rs. 20 per kg and substantially more following quality and special inquiry. Corresponding BOPF were mostly firm with select seasonal invoices appreciating following special inquiry. CTC teas were firm to easier in most instances.

There was less demand from shippers to CIS and China. The UK, the Continent and Japan were selective mostly following quality.

Low Growns totalled approximately 2.1 M/kgs, a smaller volume compared to the preceding sale due to the sale of no.31 being a restricted sale, came up for sale in the Leafy/ Tippy catalogues this week. There was good demand particularly for well-made teas.

In the Leafy catalogue BOP1/OP1’s were fully firm to dearer barring the stalky varieties at the lower end which were irregularly lower. Better OP/OPA’s too were mostly firm to dearer. Here again teas at the lower end were easier. PEK1’s were mostly firm to dearer whilst PEK’s were marginally lower to last.

In the Tippy catalogue select best together with below best FBOP’s were firm to dearer whilst FF1’s were irregular. At the lower end too cleaner varieties were firm, the balance were easier. In the Premium catalogue better teas were mostly firm, others were irregular and lower following quality. There was good demand from shippers to Turkey, CIS, Saudi Arabia, Iraq and Dubai.