The first tea auction of the year, concluded yesterday saw a good demand and had on offer a total of 6.7M/Kgs.
While prices of high and mid grown small leaf teas recorded significant price gains, the Prices for Low Grown teas tend to fluctuate, according to a Forbes and Walker report.
Ex-Estate offerings totalled 0.9M/Kgs while Low Growns totalled approximately 3.3M/kgs in the Leafy/Tippy catalogues this week. There was fair demand at slightly lower levels.
Overall quality of teas from Western planting districts had on offer a wider selection of brighter teas whilst teas from Nuwara Eliya and Uva, Udapussellawa regions were mostly similar to last.
Best Western BOP’s -majority of teas gained Rs. 20 per kg and more from a selection of improved invoices following special inquiry.
Corresponding BOPF’s which at the commencement of the sale was up to Rs. 20/- per kg dearer, moved up as the sale progressed recording gains of Rs. 40-60/- per kg and more by the closure.
BOP’s in the below best category gained Rs. 10-20 per kg whilst the plainer sorts were up to Rs.30/- per kg dearer.
Corresponding BOPF’s commenced at Rs.30 per kg dearer appreciated by Rs. 40-60/- per kg and more by the closure.
Uva/Udapussellawa BOP’s were up to Rs.20 per kg dearer whilst corresponding BOPF’s gained Rs. 30-40/- per kg.
CTC BP1’s appreciated Rs. 10 per kg all around. Corresponding PF1’s in High and Mid Grown categories gained Rs. 20-30 per kg whilst Low Growns gained Rs. 10-20 per kg. The limited availability of Liquoring Leafy Teas also saw good demand and prices fetched around Rs.550-820.
There was improved widespread activity from most markets which is indeed encouraging.
At the bottom end however, prices were fully firm. OP/OPA’s commenced Rs.5-10 per kg lower but declined further towards the close. PEK’s too were irregular and lower.
There was good demand from shippers to Dubai, Iraq, Turkey, CIS, Saudi Arabia and Kuwait. (IH)
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