Good demand at tea auctions

Saturday, 29 March 2014 00:03 -     - {{hitsCtrl.values.hits}}

By Forbes and Walker Tea Brokers A total of 7 M/kgs came under the hammer this week. There was good general demand. This week’s ex-estate offerings showed an increase on last and totalled 1.2 M/kgs vis-à-vis 1 M/kgs on offer the previous week. The quality of teas on offer from the Western Planting district showed a general decline, whilst other regions showed no significant change. There were fewer airmail bids and majority of the best western BOP/BOPF’s declined irregularly in value. In the below best category teas in the higher price bracket declined Rs. 5 to Rs. 10 per kg and more, whilst others sold around last. At the lower end of the market BOP’s declined Rs. 5 to Rs. 10 per kg and the corresponding BOPFs sold around last week’s levels. The limited availability of Nuwara Eliya BOP/BOPFs continued to sell well and realised prices ranging between Rs. 540 to Rs. 600 per kg. Uva/Udapussellawa BOPs were irregular and tended easier, whilst the BOPFs were barely steady. CTC BP1s declined Rs. 10 to Rs. 20 per kg, whilst the PF1s witnessed a firm trend in prices. Liquoring leafy teas met with much less demand resulting in a decline of Rs. 20 to Rs. 30 per kg and more with some invoices remaining unsold. There was less demand from Shipper to UK, Japan and the continent for the better liquoring teas, whilst shippers to the CIS remained reasonably active.  Low growns totalled 3.3 M/kgs in the Leafy/Tippy catalogues this week. There was fair demand. In the leafy catalogue better OP1s together with a range of clean well made BOP1s were fully firm. Better OP/OPA’s too were generally firm, barring the high priced teas which were irregular and often lower. High priced PEK/PEK1s too were barely steady. Others were however fully firm, particularly the bolder types. In the Tippy catalogue too better FBOP/FBOPF1s sold around last levels, whilst, the cleaner secondarys were mostly firm. Balance were irregularly lower. Better made Tippy invoices were dearer to last. Others particularly where quality was maintained, prices were fully firm. CIS, Turkey, Dubai, Kuwait together with Iran were active this week.