Good demand at tea auction this week despite dip in offering

The auction offerings declined further this week and totalled 5.0 million kilogrammes (M/Kgs) but was met with good general demand.   

The Ex-Estate offerings were reasonably maintained and totalled 0.84 M/Kgs. A fairly useful selection of teas was on offer from the Western slopes, whilst the teas from the Eastern sector showed no change. The Nuwara Eliyas too were reasonably maintained.   

The Best Western BOP/BOPFs gained by Rs.100 per kilogramme and substantially more following quality/special inquiry, whilst the others were irregular. In the Below Best category, the select improved BOPs appreciated by Rs.50 per kilogramme and more, whilst the others were irregular and easier. The corresponding BOPFs, whilst the select invoices gained by Rs.100 per kilogramme and more, others were firm and dearer to a lesser extent, resulting in consecutive invoices recording sharp price variances. At the lower end, the BOPs, particularly the Plainer sorts, declined by Rs.50 per kilogramme and more with many withdrawals, due to a lack of suitable bids. The corresponding BOPFs – Clean leaf coloury sorts, gained by Rs.20 per kilogramme on average, whilst the others sold around last week’s levels. 

The Nuwara Eliya – BOPs, were irregular and easier, whilst the corresponding BOPFs in comparison sold well. The Uva/Uda Pussellawa BOPs declined by Rs.50 per kilogramme and more, whilst the corresponding BOPFs declined by Rs.20-40 per kilogramme. 

A salient feature would be the price parity between the BOP and BOPF grades, particularly for the teas in the Below Best and Plainer categories, which recorded a Rs.200 per kilogramme plus premium in favour of the latter. 

The High and Mid Grown CTC teas – BP1s, were irregular, whilst the PF1s commenced firm and declined by Rs.20-40 per kilogramme and more towards the close. The corresponding Low Growns mostly sold around last week’s levels.  

Amidst attractive prices, Somerset Estate recorded a price of Rs.3,050 per kilogramme for a BOP grade, bettering its own previous record of Rs.2,600 per kilogramme established in the year 2022. The BOPF and PEK grades recorded the highest prices at the sale of Rs.1,950 and Rs.2,000 per kilogramme, respectively. Somerset Estate, situated in Nanu Oya, is renowned for its fine quality Ceylon Teas and is managed by Talawakelle Tea Estates PLC (a member of the Hayley group).  

The Low Growns comprised of 2.1 M/Kgs and met with fair demand. 

In the Leafy and Semi-Leafy catalogues, the Select Best and Best BOP1s were firm, whilst the balance together with the bolder varieties were lower. The well-made OP1s sold around last levels, whilst the balance was firm to dearer. The high-priced OPs were easier, whilst the balance together with the smaller varieties appreciated. 

The well-made OPAs were firm, whilst the balance appreciated. The high-priced PEKs were firm, whilst the Best and Below Best together with the mixed/open varieties were lower. The teas at the bottom were firm on last. The Select Best PEK1s were firm, whilst the balance appreciated. 

In the Tippy catalogue, the Select Best FBOPs were firm, whilst the Best and Below Best together with the bolder varieties were easier. The teas at the bottom were firm. The Select Best FF1s were firm, whilst the Best and cleaner Below Best were firm to dearer. The balance was irregular.

In the Premium catalogue, the Very Tippy teas met with good demand and were dearer. The Best and Below Best too appreciated, whilst the teas at the bottom sold around last levels.