Good demand at this week’s tea auctions

Thursday, 13 January 2011 00:16 - - {{hitsCtrl.values.hits}}

The second sale for the year was concluded yesterday which had on offer a 6.5 m/kgs. There was good demand.

Ex-estate offerings were maintained around 1.1 m/kgs. Overall quality showed a decline with just a handful of good all round teas on offer. Consequently, the better teas witnessed a firm to marginally dearer trend whilst the majority lost Rs.5-10 per kg following quality. Once again, the disappointing feature of the sale was the poor demand for Nuwara Eliya teas, which continued to sell barely above the Rs.300 per kg mark. High and Mid grown CTC teas lost Rs.5-10 per kg on average whilst the corresponding Low growns witnessed a firm to dearer trend. Shippers to Japan were fairly active on a wide cross section of the BOPs on offer whilst shippers to the UK and the Continent bid very selectively. Shippers to the CIS continued to be reasonably active.

Low growns comprised 3.3 m/kgs in the Leafy/Tippy catalogues. Quality on offer was mostly lower with only a small selection of neat leaf teas. There was good demand all round. In the Leafy catalogues better BOP1s together with the OP1s sold at firm to irregularly dearer rates. OP/OPAs were firm on last with a few select invoices being dearer. Pekoes commenced around last levels however declined marginally towards the close. In the Tippy catalogues too better FBOP/FF1s together with the cleaner secondaries sold around last levels. A few of the better made FFSp sold at firm to irregularly dearer rates; others were irregularly lower following quality. Teas at the lower end too met with fair demand with the cleaner types being occasionally dearer. CIS, Iran, Dubai, Turkey, Saudi Arabia and Iraq were active this week. (Source: Forbes and Walker Tea Brokers).