Tea auctions this week

Wednesday, 22 May 2013 00:14 - - {{hitsCtrl.values.hits}}

Yet another sale which had on offer a total of 8M/kgs was concluded this week. There was less demand and consequently most tea on offer sold at regularly easier rates.

The volume of Ex-Estate teas on offer were similar to last and totalled 1.6M/kgs. Here again, there was less demand. Best Western BOP/BOPF’s declined Rs.5-10 and more following quality. All other BOP’s lost by a similar margin – whilst their corresponding BOPF’s declined up to Rs.20/- per kg and more as the sale progressed. Nuwara-Eliyas declined sharply following quality with many invoices remaining unsold towards the latter part of the sale. Teas from the Uva/Udapussellawa district witnessed a similar trend and declined by Rs.5-10 per kg and substantially more for the poor leaf. CTC teas too declined by a similar margin

Low Growns totaled 3.9M/kgs in the Leafy/Tippy catalogues this week. There was fair demand at lower levels. In the Leafy catalogue PEK/PEK1’s together with OP1’s sold at firm to marginally dearer rates. Others particularly the OP/OPA’s together with BOP1’s were lower to previous. At the lower end however, there was good demand and prices were fully firm to dearer. In the Tippy catalogue too FBOP/FF1’s declined. A select range of FBOPFEXSP was fully firm to dearer. Others too were irregular and often lower. Here again at the lower end there was good demand and prices were fully firm to dearer. CIS, Dubai, Kuwait, Iraq, together with Turkey were active this week. (Courtesy: Forbes and Walker Tea Brokers)