Tea auctions this week

Thursday, 7 July 2011 00:23 - - {{hitsCtrl.values.hits}}

Overall Auction offerings remained around 8m/kgs this week.

Ex-Estate offerings were lower to last and totalled 1.4m/kgs. Overall quantity showed no improvement with a greater availability of offerings comprising to average/plainer quality Teas.

BOPs in particular were a weak feature and declined Rs.10- 20/- in most instances. Best Western BOPFs declined irregularly following quality, others which commenced firm appreciated marginally by the close.

The overall price structure for the CTC varieties showed no change, although prices tended to fluctuate following quality variances.

A selection of Liqouring Leafy Teas sold selectively well following special enquiry whilst, others barely realised last week’s Auction levels.

Low Growns comprised of approx 3.5m/kgs, in the Leafy/Tippy Catalogues. There was fair demand.

In the Leafy Catalogue better Pekoe/Pekoe1s were fully firm to dearer, improved Below Best too gained. Well made OP/OPAs together with the BOP1s/OP1s sold at firm to irregularly dearer rates, others declined where quality was not maintained.

In the Tippy Catalogues better FBOPs/FF1s were firm. Cleaner Secondaries met with improved demand and were Rs.5-10/- dearer. Well made Tippy Invoices too were firm to irregularly dearer. Here-again, at the lower end prices were fully firm to dearer for the cleaner teas, others were barely steady. There was good demand from CIS, Dubai, Turkey, Kuwait, Saudi Arabia and Iraq. (Source: Forbes and Walker Tea Brokers)