Tea auction sees prices ease amid lower demand

The auction offerings continued to be high for the time of year and totalled 6.4 million kilogrammes (M/Kgs).  There was fair demand for the Large Leaf/Low Grown teas, whilst the High and Mid Grown BOP/BOPFs met with less demand and an easier trend in prices, Forbes and Walker Tea Brokers said.
The Ex-Estate offerings totalled around 0.9 M/Kgs. There was less demand and many withdrawals, due to a lack of suitable bids.  
The Best Western BOPs – A few select invoices, were firm, whilst the others declined by Rs.50 per kilogramme and more following quality. The corresponding BOPFs had a select range of invoices, which sold firm and dearer, following special inquiry, whilst the others declined by Rs.50-100 per kilogramme. In the Below Best category, a few select BOPs in the higher price bracket appreciated by Rs.50-100 per kilogramme, following special inquiry, whilst the others were mostly unsold and where sold, recorded a decline of Rs.50-100 per kilogramme on last. The corresponding BOPFs had a select range of teas, which sold firm to Rs.50 per kilogramme dearer, following special inquiry, whilst the others were irregular and declined by Rs.50 per kilogramme and more for select high-priced teas of last week.

At the lower end, the BOPs were mostly unsold and where sold, recorded a price drop of Rs.50-100 per kilogramme. The corresponding BOPFs declined by Rs.50 per kilogramme and more as the sale progressed. The Nuwara Eliyas were mostly firm. The Uva/Uda Pussellawa BOPs declined by Rs.100 per kilogramme, whilst the corresponding BOPFs declined by Rs.50-70 per kilogramme, with many withdrawals, due to lack of suitable bids.   The High and Mid Grown CTC BP1s – Prices for the limited availability of teas, were irregular. The PF1s – Better teas, were up to Rs.50 per kilogramme easier, whilst the others were firm and lower to a lesser extent. The Low Grown varieties – BP1s, were Rs.50 per kilogramme easier, whilst the PF1s declined by Rs.50 per kilogramme and more. 
The Low Growns comprised of 2.9 M/Kgs. The Leafy, Semi-Leafy and Premium categories met with fair demand, whilst the Tippy catalogue witnessed less demand. The shippers to Iran continued to be less active at this week’s auction. 
In the Leafy and Semi-Leafy catalogues, the Select Best and Best BOP1s maintained, whilst the balance together with the bolder varieties were irregular. The well-made OP1s were easier, whilst the balance sold around last levels. The Select Best and Best OPs declined, whilst the Below Best and poorer sorts were fully firm. However, the smaller varieties were lower. The OPAs, in general, were firm. The high-priced PEK/PEK1s were firm, whilst the Best and Below Best together with the mixed/open varieties were easier. The teas at the bottom sold around last levels.
In the Tippy catalogue, a few Select Best FBOPs were firm, whilst the balance was easier. The Best and Below Best varieties followed a similar trend. However, the bolder varieties together with the teas at the bottom were firm. The Select Best and Best together with the Below Best FF1s declined sharply. However, the teas at the bottom were firm. In the Premium catalogue, the Very Tippy teas together with the Best and Below Best and teas at the bottom were easier, whilst the leafier varieties sold around last levels.