Good general demand at tea auction this week

The tea auction this week saw good general demand, with offerings totalling 6.4 MnKgs. 
The Ex-Estate offerings totalling 0.93 M/Kgs were sold in an outcry auction amidst much excitement and nostalgia. 
“There was improved activity and brisk bidding for a selection of Best Westerns on offer and particularly for the BOPF grade,” Forbes and Walker Tea Brokers said. 
These select invoices appreciated by up to Rs.100 per kg, whilst the other improved BOPF invoices too appreciated in value although to a lesser extent. The teas at the lower end of the market sold at firm to marginally dearer rates. The BOPs in the Below and Plainer categories met with much less demand and often remained unsold due to a lack of suitable bids. Consequently, the price parity between the BOP and BOPF grades, particularly in the Below Best and Plainer categories, recorded a premium of over Rs.150-250 per kg for the latter. The Nuwara Eliyas met with limited interest and prices were barely maintained around last week’s levels. The Uda Pussellawa – A majority of the BOPs, remained unsold due to a lack of suitable bids, whilst the corresponding BOPFs sold around last week’s levels. The Uva – BOPs, declined by Rs.50 per kg, whilst the corresponding BOPFs appreciated by Rs.20-40 per kg and more. Here again, the price parity between the BOP/BOPFs weighed towards the latter with a premium of Rs.100-150 per kg. 

The CTC teas sold around last week’s levels and the current prices could be considered attractive from a global point of view. The BP1s had hardly any offerings and an irregular price pattern often reflective of qualitative variances. A few select Large Leaf liquoring teas on offer sold well for the time of year. 
Improved activity from the shippers to the CIS was seen together with the shippers to South Africa and Hong Kong, who continued to bid on a fair cross-section of the teas, whilst there was selective interest from the shippers to the UK. There appeared to be less activity from the shippers to Japan.  
The Low Growns comprised of 3.0 M/Kgs. The Leafy, Semi-Leafy and Tippy categories met with fair demand, whilst the Premium catalogue witnessed less demand. There was less activity from shippers to Iran. 
In the Leafy and Semi-Leafy catalogues, a few high-priced BOP1s appreciated, whilst the Best varieties were firm. However, the balance together with the bolder varieties were lower. The Select Best and Best OP1s were firm to dearer, whilst the balance sold around last levels. The Select Best and Best OPs were firm, whilst the Below Best and poorer sorts appreciated. However, the smaller varieties were selectively dearer. The high-priced PEK/PEK1s were firm. The Best and Below Best varieties too followed a similar trend, whilst the mixed/open varieties were easier. The teas at the bottom were firm.
In the Tippy catalogue, the select Best FBOPs were firm, whilst the balance declined. However, the teas at the bottom were firm. A few Select Best FF1s were firm, whilst the balance in general declined.
In the Premium catalogue, the Very Tippy teas were easier, whilst the Best and Below Best together with the teas at the bottom declined. However, the leafier varieties were firm.