Good demand at irregular rates

Thursday, 3 February 2011 00:30 -     - {{hitsCtrl.values.hits}}

This week’s auction quantities totalled 7.5 m/kgs. There was good demand at irregular rates.

Ex-estate offerings totalled 1.2 m/kgs. Overall quality particularly in respect of the Westerns was not maintained whilst teas from the other regions showed no significant change. There was good demand at irregularly easier rates.

The majority of the Below Best and Plainer teas lost Rs.5-10 per kg. Nuwara Eliyas continued to be the disappointing feature. CTC varieties followed a similar trend and lost Rs.5-10 per kg in most instances. There was improved activity from shippers to CIS together with fair interest from shippers to Japan. UK and the Continent appeared selective.

Overall a lower market for Off grades and Dusts with an average drop of Rs.10-20 per kg. The latter in particular witnessed less activity from the export sector which was possibly triggered by the sharp decline in prices at this week’s Mombasa auction, following hesitant buying from Egypt due to the civil unrest.

Low growns totalled 3.5 m/kgs in the Leafy/Tippy catalogues. There was fair general demand. In the Leafy catalogues select best BOP1/OP1s were barely steady, however, others were fully firm. OP/OPAs met with improved demand and gained Rs.5-10 per kg particularly for the improved below best sorts.

At the lower end too cleaner sorts sold well, others were easier. Pekoes too followed a similar trend with high priced teas being irregular whilst the others were fully firm to irregularly dearer rates.

In the Tippy catalogues select best FBOPs/FF1s sold around last levels, others were generally easier following quality. Cleaner secondaries were generally easier Rs.5-10 per kg. A selection of well made Tippy invoices sold around last levels whilst most others were easier. CIS, Turkey, Iran, Dubai, Saudi Arabia, Kuwait together with Iraq were active this week.

(Source: Forbes and Walker Tea Brokers)