21 April 2016 08:56 am
The tea auction this week saw a relatively small quantity of 4.9M/kgs come under the hammer but a good demand was observed consequent to the lower volumes and the absence of an auction last week on account of the Sinhala and Tamil New Year.
The quantity that went into auctions at the 15th sale of the year was 33 percent lower compared to the 7.4M/kgs offered in the corresponding period of the previous year. According to the Forbes and Walkers Tea Broker’s latest tea market report, ex-estate offerings totalled 0.9M/kgs, which met with excellent demand. The overall quality of teas on offer from the Western planting districts showed no significant change whilst Nuwara Eliya’s recorded a sharp decline in quality.
Uva/Udapussellawa’s in general showed an improvement on last. Best Western – select coloury invoices were substantially dearer whilst the others were firm and Rs.10-20 per kilogramme dearer. Corresponding BOPFs gained Rs.20-40 per kilogramme. In the below best category select coloury teas gained Rs.10-20 per kilogramme and more following airmail inquiry whilst the others together with the plainer sorts appreciated Rs.10 per kilogramme on average.
Corresponding BOPFs gained Rs.10-40 per kilogramme. However, lighter liquoring teas were neglected. Nuwara Eliya’s were sharply lower following quality. Uva/Udapussellawa BOP/BOPFs gained Rs.10-20 per kilogramme.
High and medium grown CTC teas were often Rs.10-20 per kilogramme dearer. Low grown BP1s were Rs.10-20 per kilogramme lower whilst the corresponding PF1s gained Rs.20-30 per kilogramme.
Liquoring leafy teas met with lukewarm demand and sold at irregular rates following airmail inquiry. Consequently, prices for these teas ranged between Rs.450-800 per kilogramme.
At this week’s sale, shippers to Dubai, CIS, Turkey, Saudi Arabia and Iraq together with Kuwait were active.