Less demand at tea auction

Friday, 10 February 2012 00:00 - - {{hitsCtrl.values.hits}}

The sixth sale of the year concluded yesterday was a restricted one-day auction and had on offer a total of 4.3m/kgs. There was less demand.

Ex-Estate offerings totalled a 0.9m/Kgs. The quality of teas from the Western Planting districts was irregular with a few improved invoices, whilst teas from the other planting regions showed no change.

Overall demand considering the restricted volume on offer was in fact disappointing, except for a few select best Western BOP/BOPF which appreciated in value following airmail enquiry, whilst most others on offer declined by Rs.5-15 per kg.

CTCs were no exception and declined by an average Rs. 5-10 all round. There was improved demand for the liquoring leafy teas, which appreciated significantly in value.

Shippers to the CIS were less active whilst interest from UK and the Continent appeared selective following quality.Low Growns comprising a slightly lower volume of approximately two m/kgs came up for sale this week. There was fair general demand. In the Tippy catalogues, FBOP/FBOPF1s sold at firm to dearer rates. Neat leaf BOPs too sold at fully firm to dearer rates. High priced FBOPFSP/FBOPFEXSPs were however irregular and lower.In the Leafy catalogues too OP/OPAs sold at irregularly dearer rates. PEKs too were fully firm. BOP1s were however barely steady whilst OP1s sold around last levels. There was good demand from CIS, Turkey, Dubai, Iraq and Kuwait. (Source: Forbes and Walker Tea Brokers)