Tea auctions this week

Friday, 20 January 2012 00:26 - - {{hitsCtrl.values.hits}}

A total of 7.2m/Kgs came under the hammer this week. There was good general demand.

Ex-estate offerings showed a marginal increase and totalled a 1.2m/Kgs. Overall quantity of teas on offer showed no significant change although a few select invoices from the western planting districts showed signs of seasonal improvement.

Consequently, these teas appreciated in value following quality and airmail enquiry, others were irregular and mostly easier, particularly, the BOPF’s.

Nuwara Eliyas were firm to slightly easier, whilst, Uva/Udapussellawas sold around last week’s levels. CTC’s too were firm and tended easier. The limited availability of liquoring leafy teas continued to sell well.

Next week a wider selection of the offerings have shown improvement with select few invoices having a touch of seasonal character.

Extremely, cold weather conditions continue to prevail in most up country planting districts, with the Nuwara Eliya district recording the lowest temperature. Whilst, this weather condition is not unusual during this time of year 2.7 degrees celsius recorded on 16 January incidentally, is the lowest recorded temperature since July 1914, according to the Met Dept.

Although the current weather being experienced is conducive for manufacture of seasonal flavoury teas, it would significantly impact the crop intake from now on.

Low Grown’s comprised of 3.4m/Kgs in the leafy/tippy catalogues. In the leafy catalogue, better OP1/BOP1’s were irregular and lower with only a few maintaining.

Others were fully firm. Better OP/OPA’s too were easier. Balance particularly the cleaner types at the lower end were fully firm to Rs. 10 dearer. PEK/PEK1’s too followed a similar trend.

In the Tippy catalogue, a selection of well made FF1/FBOP’s together with the clean below best sold at firm to marginally dearer rates.

Better made FBOPFSP’s too were irregularly dearer whilst others were easier. CIS, Dubai, Iraq, Kuwait, Saudi Arabia together with Turkey were active this week.

(Courtesy: Forbes and Walker Tea Brokers)