Sunday Dec 15, 2024
Sunday Dec 15, 2024
Saturday, 19 October 2019 00:02 - - {{hitsCtrl.values.hits}}
Tea production for September 2019 totalled 21.7 million kg, showing a gain of 2.3 million kg when compared to the 19.4 million kg posted in the same month last year, Forbes and Walker Tea Brokers said yesterday.
Low Growns have shown a year-on-year growth, whilst Mediums have remained static. Meanwhile, High Growns have shown a marginal decline compared to September 2018, it said in its latest report.
January-September 2019 cumulative production of 232.7 M/kg shows a growth of 9.7 M/kg vis-à-vis 223 M/kg of January-September 2018. All elevations have shown a growth when compared to the corresponding period of 2018, with Low Growns showing the biggest gain, followed by Mediums and High Growns.
CTC production for September 2019 totalled 1.8 M/kg, showing a gain of 0.15 M/kg vis-à-vis 1.6 M/kg of September 2018. Low Growns and High Growns have shown a YOY growth, whilst Mediums have shown a marginal decrease. On a cumulative basis, January-September 2019 CTC production of 17.2 M/kg remained static when compared to the corresponding period of 2018. On a cumulative basis, however, only Mediums have shown a marginal gain, while Low Growns and High Growns show a decline compared to the corresponding period of 2018.
This week a total of 6 M/kg came under the hammer. There was improved demand and more so for the well-made teas.
Ex-Estate offerings were similar to last week and totalled 0.89 M/Kg. Here again, there was improved demand particularly for the BOPF grade, which on average gained Rs. 20 per kg and more for select bright liquoring teas.
It was encouraging to witness the improved demand for the brighter Nuwara Eliyas which shows some promise for these teas that have been neglected for a period of time. The general improvement in the product quality in the Uda Pussellawas were compensated by an improvement in price, while the Uvas continued to sell well, particularly the BOP invoices.
High and Mid Grown CTCs were selectively dearer following quality, while the Low Grown types sold well with prices ranging from Rs. 550 to Rs. 920.
Low Growns totalled 2.8 M/kg in the Leafy/Tippy catalogues this week. There was good demand, particularly for the well-made teas. In the Leafy catalogue, better OP1/BOP1s were fully firm to dearer, while others were mostly firm. Better OP/OPAs too were fully firm to dearer. Others and the stalky types at the lower end were irregular and lower.
Meanwhile, PEK/PEK1s too were mostly firm to last with a range of well-made shotty types gaining substantially at times. In the Tippy catalogue, better FBOP/FF1s together with the cleaner secondaries were firm to irregularly dearer, whilst others were easier following quality. In the Premium catalogue too, the best available teas gained, whilst others were irregular. There was good demand from shippers to Turkey, CIS, Dubai, Saudi Arabia and Iraq this week.
