Jun 02, 2016 (LBO) – Sri Lanka’s tea at auction offerings saw good demand low grown with overall volumes increased, Forbes & Walker Tea Brokers said in their latest report.
“Overall Auction volume increased further and totaled a 7.6M/kgs. There was fair demand mostly at easier rates,” the report said.
“Overall quality of teas on offer were barely maintained.”
The full report follows:
Overall Auction volume increased further and totalled a 7.6M/kgs. There was fair demand mostly at easier rates.
Ex-Estate offerings too increased and totalled a 1.4M/kgs vis-à-vis the 1.2M/kgs on offer the previous week. Overall quality of teas on offer were barely maintained.
The downward pressure on prices continued following increased availability coupled with the relatively uninteresting quality on offer. Best Western BOP’s – Select high priced teas were up to Rs. 20/- per kg lower whilst the others together with a selection of brighter below best sorts were Rs. 10-20/- per kg dearer following special inquiry.
Corresponding BOPF’s declined Rs. 20/- per kg. Plainer BOP/BOPF’s were Rs. 20/- per kg lower. Nuwara Eliya’s were irregular and tended dearer. Uva/Udapussellawa BOP’s were Rs. 10-20/- per kg lower whilst the corresponding BOPF’s were Rs. 10/- per kg lower on average.
High Grown CTC teas declined Rs. 10/- per kg on average whilst the Medium Grown’s eased further and were up to Rs. 20/- per kg lower. However, Low Grown types were firm and up to Rs. 20/- per kg dearer. Liquoring Leafy teas – the limited availability on offer continued to sell well.
There was fair demand from shippers to CIS, China, South Africa, Japan and Hongkong whilst interest from UK and the Continent were selective.
Low Growns totalled 3.4M/kgs in the Leafy/ Tippy catalogues. There was fair demand but at lower levels. In the Leafy catalogue OP1/BOP1’s were generally lower whilst a few select best OP/OPA’s maintained.
Others were easier. Select best PEK/PEK1’s too maintained whilst others were mostly lower, particularly the bolder types. At the lower end however prices were firm. In the Tippy catalogue FBOP’s were generally easier barring the cleaner teas at the lower end which held firm.
A few select best FF1’s maintained. Here again the others were mostly lower to last. In the Premium catalogue too a few select best teas maintained whilst the others were irregular following quality. At this week’s sale shippers to Dubai, Turkey, CIS, Iraq, Kuwait together with Saudi Arabia were active.
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