Tea auction records quantity increase but irregular rates

Saturday, 12 May 2012 01:25 - - {{hitsCtrl.values.hits}}

Total auction quantities recorded an increase and a quantity of 7.4 m/kgs came under the hammer this week, Forbes and Walker Tea Brokers said in a statement yesterday, pointing out that there was fair general demand at irregular rates.

Ex-Estate offerings were mostly higher to last and totalled 1.3 m/kgs. There was fair general demand mostly at irregular easier rates. Overall qualities of Westerns were irregular with a small selection of teas maintaining a useful standard. Nuwara-Eliyas together with the Uva/Udapussellawas were lower to last.

Consequently, the limited availability of better teas, particularly the BOPFs, witnessed a firm to dearer trend, whilst the others comprising of the majority declined by Rs.5-10.

BOPs witnessed much less demand and were lower all around with tea in the high price bracket declining substantially and in general a fair weight of BOPs remained unsold.

Nuwara-Eliya BOP/BOPFs were irregular following quality, whilst the leafy teas met with much less interest resulting in a lower trend in prices.

CTCs also followed a similar trend and lost Rs. 10-20 and more following quality.

Low Growns comprised of 3.1 m/kgs in the Leafy/Tippy catalogues. In the Tippy catalogue there was good demand particularly for the well-made clean leaf sorts. Better FBOPs together with FBOPF1s sold around last levels. Cleaner secondaries too maintained whilst the teas that did not maintain leaf style were lower to last.

Well-made FBOPFSPs were fully firm with a few selected lines gaining on last. In the Leafy catalogue, better OP1s were firm. Others, particularly the OP/OPAs, declined by Rs. 10-15 per kg. PEKs too were a lower feature. At the lower end there was fair demand but at lower levels. CIS, Dubai, Saudi Arabia, Kuwait and Turkey together with Iraq were active this week.