Good demand at tea auctions

Thursday, 26 September 2013 00:43 -     - {{hitsCtrl.values.hits}}

A total of 6.7M/kgs came under the hammer. This week too the Low Grown teas continued to meet with good demand, whilst, the High and Medium Grown small leaf teas continued to weaken further. Overall Ex-Estate offerings increased to a 1.3M/kgs from 1.2M/kgs of the previous week. There was less demand, resulting in an average decline in prices by Rs. 20/- per kg. Better Western BOP’s sold well, although at irregular rates, whilst, other BOP’s from this region sold around previous week’s price levels. The corresponding BOPF’s declined by an average Rs.20/- per kg and more towards the close. Nuwara Eliya’s were irregular and mostly lower following quality. Uva/Udapussellawa seasonal teas declined sharply following quality and once again fewer air mail bids as well. Other coloury/plain BOP/BOPF’s from the Eastern sector declined Rs.20-30/- per kg and RS.10-20/- per kg respectively. CTC teas also followed a similar trend and declined by Rs. 20/- per kg and more for poorer teas in most instances.  Amidst this low trend, leafy teas from the Uva Planting districts sold well with an invoice of St. James PEK1 line realizing a Rs.1,000/- per kg. Low Growns totalled 3.2M/kgs in the Leafy/Tippy catalogue this week. There was good general demand. In the Leafy catalogue better OP1/BOP1’s were irregular, whilst, all others were fully firm to dearer. PEK’s too met with good demand and were fully firm to dearer particularly at the lower end. A select range of better OP/OPA’s maintained, whilst, others were easier. There was however, wide spread demand at the lower end, resulting in prices being fully firm to dearer. In the Tippy catalogue too FBOP/FF1’s were fully firm to dearer, with the cleaner secondries gaining substantially at times. Well made Tippy invoices too were selectively dearer. Others though irregular were mostly firm. There was good demand from Shippers to CIS, Dubai, Turkey, Iraq, Saudi Arabia and Kuwait this week. (Courtesy: Forbes and Walker Tea Brokers)