Tea auctions this week

Wednesday, 1 May 2013 00:30 - - {{hitsCtrl.values.hits}}

This week a total of 7.5M/kgs came under the hammer. Low-Growns continued to meet with good demand; although at irregular rates, whilst the High & Mid-Grown, small-leaf teas witnessed improved demand and consequently a firm to dearer trend in prices.

Ex-estate offerings totalled 1.4M/kgs which met with improved demand, notwithstanding the relatively uninteresting quality. A selection of brighter BOP/BOPF’s appreciated Rs.10-20 per kg and more for a few select invoices, whilst most others sold firm and up to Rs.10 per kg on last week’s levels. Nuwara-Eliya BOP’s encountered much less demand, resulting in a fairly steep decline in prices, whilst their corresponding BOPF’s appreciated Rs.20 per kg and more. Liquoring leafy teas continued to sell well, particularly, invoices from the Nuwara-Eliya region. CTC teas witnessed an irregular trend with prices barely steady on last week’s levels. Low-Grown leafy/tippy catalogues comprised of approximately 3.6M/kgs this week. There was fair demand. In the Leafy catalogue PEK/PEK1’s met with good demand and were fully firm to selectively dearer in price. BOP1/OP1’s too sold well, particularly the improved/below best types. Better OP/OPA’s were mostly lower. At the lower end however prices were fully firm. In the tippy catalogue, select best FBOP/FF1’s were irregularly lower. Others, particularly the cleaner secondarys maintained. Here again at the lower end, cleaner types were fully firm, whilst the others declined. Shippers Turkey, Dubai, CIS, Kuwait, Iraq together with Saudi Arabia were active this week. (Courtesy: Forbes and Walker Tea Brokers)