This week’s tea auction offerings totalled 6.5 M/Kgs vis-à-vis 7.3 M/Kgs on offer the previous week. Leafy/Low Grown teas met with reasonably good general demand, whilst the High & Mid Grown Small Leaf teas were a weak feature.
Ex-Estate offerings totalled 0.9 M/Kgs. Overall, quality of teas were generally lower to last. There was less demand.
Best Western BOP’s declined Rs. 20-30 per kg and more, whilst the corresponding BOPF declined by Rs. 20/- per kg and more following quality. In the Below Best category few select improved BOP’s appreciated following special inquiry, whilst the corresponding BOPF declined Rs. 20 per kg and more as the sale progressed. Plainer BOP’s were firm to marginally easier, whilst the corresponding BOPF, particularly the poor leaf teas declined Rs. 10-20 per kg.
Nuwara Eliyas declined substantially following quality. Udapussellawas were generally firm and continued to sell at the low end of the market following poor quality. Uva BOP’s were firm, whilst the corresponding BOPF - select invoices appreciated Rs. 20-30 per kg, whilst the others were firm and lower by a similar margin. CTC teas mostly sold around last week’s levels.
Low Growns comprised of 2.9 M/kgs in the Leafy/Tippy catalogues this week. There was good demand. In the Leafy catalogue, BOP1’s together with a range of better OP1’s were fully firm to irregularly dearer. Others were barely steady. Select best PEK/PEK1’s together with a selection of bolder types gained, whilst others were irregular and lower. Better OP/OPA’s were barely steady.
Others too were irregular and lower. At the lower end however, cleaner types maintained. In the Tippy catalogue, a select range of best FBOP’s maintained. Others and the FF1’s were easier by Rs. 10-15 per kg and more for the secondary types. At the lower end, prices were firm, particularly for the cleaner varieties. In the Premium catalogue, there was good demand and a fair selection of well made neat leaf teas maintained. Others were irregular. There was fair demand from shippers to CIS, Turkey, Iraq, Dubai and Saudi Arabia this week.
National average for the month of April 2019 totalled Rs. 578.23 vis-à-vis Rs. 585.92 of March 2019 showing a marginal decrease of Rs. 07.69 month on month. However, in comparison to the corresponding month of April 2018 average of Rs. 606.75, shows a greater decrease of Rs. 28.52. When analysing the respective elevational averages for the month of April 2019; High Growns totalling Rs. 540.97 for April 2019 have recorded a decrease of Rs. 30.09 vis-à-vis Rs. 571.06 of March 2019. When compared to April 2018, a decrease of Rs. 21.48 is recorded YOY. Mediums averaging Rs. 508.14 for April 2019 have recorded a marginal decrease of Rs. 02.02 vis-à-vis Rs. 510.16 of March 2019. However, against April 2018 which recorded Rs. 553.55 shows a sharp decrease of Rs. 45.41. Meanwhile, Low Growns totalling Rs. 608.07 for April 2019 have recorded a decrease of Rs. 03.01 vis-à-vis Rs. 611.08 of March 2019. When compared to Rs. 634.25 of April 2018, shows a decrease of Rs. 26.18 YOY.
When analysing the January-April 2019 cumulative average of Rs. 583.55, a decrease of Rs. 41.83 is recorded vis-à-vis Rs. 625.38 of January-April 2018.
Forbes & Walker Tea Brokers (Pvt) Ltd.
0 comments: