Tea auctions this week

Wednesday, 16 February 2011 00:09 - - {{hitsCtrl.values.hits}}

The 7th sale of the year concluded today was a restricted one day auction held on a Monday on account of the intervening holidays. A total of 4.7 m/kgs came under the hammer.

Low growns met with a firm to dearer trend whilst High and Mid grown small leaf varieties and their corresponding Off grades and Dusts encountered a bearish trend.

Ex-estate offerings totalled 0.9 m/kgs. Overall quality was preferable particularly in respect of teas from the Western and Nuwara Eliya planting districts. Once again improved product quality combined with lower volumes failed to stimulate the overall demand structure, although a select range of improved seasonal quality Westerns appreciated Rs.10-20 per kg following special inquiry. Nuwara Eliyas witnessed a slight upward movement in prices although still continued to compare poorly vis-a-vis BOP/BOPF from the other planting regions. CTC varieties too showed no change and mostly sold around last levels whilst the liquoring leafy teas continued to attract fairly good demand thus realising some useful price gains.

At this week’s sale a smaller volume consisting of 2.4 m/kgs came up for sale in the Leafy/Tippy catalogues. There was good demand all round. In the Leafy catalogues OP/OPAs were fully firm to dearer. Pekoes too followed a similar trend. OP1s too sold at firm to dearer rates. BOP1s were however barely steady. In the Tippy catalogues better FBOP/FF1s commenced irregular but gained Rs.5-10 per kg towards the close. Cleaner secondaries too followed a similar trend. A fair selection of well made Tippy invoices sold at firm to irregularly dearer rates, others were easier. At the bottom end too cleaner types gained Rs.10-15 per kg whilst the balance was firm. There was good demand from CIS, Turkey, Syria, Iran, Kuwait, Dubai, Saudi Arabia and Iraq. (Source: Forbes and Walker Tea Brokers)

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