Tea auction sees good general demand this week
The total auction offerings this week comprised of 5.3 million kilogrammes, which was met with good general demand.
The Ex-estate offerings showed an increase over last and totalled 0.8 million kilogrammes vis-à-vis 0.7 million kilogrammes on offer over the last couple of weeks. The quality of teas from the Western slopes comprised of a fairly useful selection of teas, whilst the others showed no significant change.
The Better teas continued to sell around last, with price appreciations, following special inquiry. A selection of improved teas in the Below Best category appreciated significantly, in keeping with quality, whilst the limited availability at the lower end appreciated by up to Rs.50 per kilogramme and Rs.100 per kilogramme, respectively for the BOP an BOPF grades.
The teas from the Nuwara Eliya region were often irregular, following quality. The Uda Pussellawa BOP/BOPF grades appreciated by Rs.50 per kilogramme and Rs.100 per kilogramme, respectively. The Uva BOPS gained up to Rs.100 per kilogramme, whilst the corresponding BOPFS gained between Rs.40 and Rs.60 per kilogramme.
The High and Medium Grown CTC, particularly the PF1 grade, witnessed a correction in prices and on average, a Rs.2040 per kilogramme drop in values were observed, with the exception of the Best available invoices. The corresponding Low Grown varieties too encountered a bearish sentiment, with most teas selling around last week’s closing levels.
The shippers to the UK, continent, Japan, China, South Africa and the CIS mostly dominated the sale.
The Low Growns comprised of 2.20 million kilogrammes and met with fair demand at easier rates.
In the Leafy catalogues, the high-priced OP1S were easier, whilst the balance sold around last levels. In the Tippy catalogues, the FBOPS in general were firm, whilst the bolder varieties declined. Few Select Best FF1S were firm, whilst the others were easier.
In the Premium catalogues, the very Tippy teas met with good demand and were firm to dearer. The Best too appreciated, whilst the Below Best and teas at the bottom were firm.