Tea auctions this week

Thursday, 11 August 2011 00:13 - - {{hitsCtrl.values.hits}}

The 31st sale of the year which was concluded this week had on offer of 7.7m/kgs. Overall a lower market.

Ex-Estate offerings maintained last week’s volumes and totalled 1.3m/kgs. There was less demand. Consequently, prices declined in most instances by an average Rs.10 per kg.

The better Western BOPs declined Rs.10-20, BOPF lost up to Rs.30per kg - whilst, the below best and plainer sorts declined Rs.10 per kg on average. Ironically a shaper drop in prices for the better teas. Nuwara Eliyas showed no change in the price structure, and continued to sell poorly. The limited availability of seasonal Uvas sold at irregular rates following quality - whilst a majority of the teas from the Eastern sector lost Rs.5-10 on average. High & mid grown CTC PF1s were irregular and barely steady - whilst, Low grown PF1s continued to sell at premium rates.

Next week’s Ex-Estate Auction offerings drop down to a 1.1m/kgs, the lowest volume on offer since the sale of 23 March 2011.

Low Growns comprised of 3.3m/kgs in the Leafy/Tippy catalogues. There was a fair selection of well made teas. In the Leafy catalogue better OP1/BOP1s were barely steady, however, improved below best sorts and teas in the lower end were fully firm to irregularly dearer. High priced OP/OPAs too were lower. Here-again, there was better demand for the bottom end teas, resulting in prices gaining on last. Pekoes were mostly irregular and lower. In the Tippy catalogue select best FBOP/FF1s were firm. A few cleaner secondaries too maintained - whilst, the others were barely steady. CIS, Saudi Arabia, Turkey, Iraq together with Dubai were active this week.

(Sourfce: Forbes and Walker

Tea Brokers)