Tea auctions this week

Thursday, 21 July 2011 00:00 -     - {{hitsCtrl.values.hits}}

This week’ Auction quantity totalled 7.7m/kgs of which Ex-Estates comprised of 1.5m/kgs.

Ex-Estate offerings consisted of a useful selection of improved Westerns. Consequently, prices too for the improved BOP/BOPF gained Rs.5-10 and more following quality. There was good demand for the Clean Leaf Plainer BOP/BOPF too, at the lower end, resulting in prices gaining Rs.5-10. Nuwara Eliyas sold sound last levels.

Better Uva/Udapussellawa BOP/BOPF were irregular. A selection of improved teas were however fully firm, whilst, the Poor Leaf sorts, were irregular and lower. CTC prices too were mostly lower. Barring a select range of Low Grown PF1s that maintained, others were mostly lower.

Low Growns comprised of 3.6m/kgs, in the Leafy/Tippy Catalogues. In the Leafy Catalogue select best BOP1/OP1s sold at firm to dearer rates. Better OP/OPAs too commenced around last levels but declined marginally towards the close. Others met with fair demand and were firm. Pekoes too were mostly firm on last. In the Tippy Catalogues the select best FBOPs/FF1s together with the Cleaner Secondaries were fully firm to irregularly dearer. Well made Tippy Invoices too were dearer to last. At the lower end the Cleaner sorts were firm, balance declined Rs.5-10.  CIS, Dubai, Saudi Arabia, Turkey, Iraq and Kuwait were active this week. (Source: Forbes and Walker Tea Brokers)