Tea auctions this week

Friday, 15 May 2015 00:58 - - {{hitsCtrl.values.hits}}

By Forbes and Walker Tea Brokers

A total of 7.6 M/Kgs came under the hammer this week. There was fair demand. The feature of the sale was the improved wide spread demand for the better teas.

This week’s Ex-Estate offerings were marginally lower to last and totalled a 1.2M/Kgs. Overall quality was in general lower to last. Best Western BOPs declined by Rs. 10 per kg on average whilst the corresponding BOPFs were irregular with select invoices which maintained previous week’s levels of quality appreciating in value.

In the below best and plainer category BOPs were irregular and often easier for the poorer types. Corresponding BOPFs were Rs. 10-20 per kg dearer for the improved invoices whilst the others were irregular.

Nuwara Eliya BOPs – where quality was maintained – gained Rs. 20-30 per kg whilst the others were irregularly firm. The corresponding BOPFs declined Rs. 10-20 per kg. Uva/Udapussellawa’s BOPs were firm and up to Rs. 10 per kg dearer whilst the corresponding BOPF’s were irregular following quality.

CTC teas continued to witness a bearish sentiment and once again the poorer sorts were difficult of sale. Liquoring leafy teas continued to meet with good demand with prices ranging from Rs. 550 to Rs. 1,350 following quality.

There was fair demand from shippers to the CIS, Japan and Hong Kong whilst UK, the Continent and South Africa appeared selective.

Low Growns comprised of approximately 3.3M/kgs in the Leafy/Tippy catalogues this week. There was good demand particularly for the better made teas. In the leafy catalogue a fair selection of better OP1/BOP1s sold at firm to irregularly dearer rates. Others were lower following quality.

OP/OPAs too were mostly firm. Here again a selection of teas in the below best category were irregular following quality. PEK/PEK1s too commenced around last levels but gained Rs. 10-15 per kg and more particularly for the bolder types to close the sale on a strong note.

In the Tippy catalogues too better FBOP/FF1s were fully firm to dearer whilst the cleaner secondaries too were mostly firm to irregularly dearer. Others were barely steady following quality. Better made Tippy invoices too were fully firm to irregularly dearer, whilst the balance were barely steady. Shippers to CIS, Turkey, Dubai, Iraq and Libya together with Saudi Arabia were active this week.