Tea auction sees selective buying this week as volumes shrink

Tea auction offerings declined to 5.5 M/Kgs this week, and there had been fair general demand.  

Ex-Estate offerings totalled 0.74 M/Kgs. Overall qualities of teas were fairly similar with a small selection of seasonal Uvas’ on offer.  

In the Best Western category BOP/BOPF’s – Select invoices gained by Rs. 20-40 per kg, whilst the others often declined by a similar margin. 

In the Below Best category, select improved BOP/BOPF’s gained by Rs. 20 per kg and more, whilst the others were irregular and easier. At the lower end, BOP’s were mostly firm, whilst the corresponding BOPF’s were firm and Rs. 20-40 per kg dearer. 

Nuwara Eliya BOP/BOPF’s met with better demand though prices continued to be irregular following quality. Uda Pussellawas’, in general, were weaker and often lost out in value. Seasonal Uva teas continued to sell well with prices for BOP’s ranging between Rs. 2,000-3,700 per kg and the corresponding BOPF’s between Rs. 2,000-2,550 per kg. A few seasonal PEK’s on offer too sold well.   

High & Medium Grown CTC teas – Better sorts were irregular and tended easier, whilst the others sold around last week’s levels. Corresponding Low Grown varieties were barely steady. 

The demand from shippers to the UK and South Africa had been selective. Shippers from the continent and Japan seem to be fairly active on the better teas, whilst the shippers to the CIS and the Middle East dominated at the lower end of the market.  

Low Growns totalled approximately 2.4 M/Kgs, with fair demand witnessed in the Semi-Leafy, Tippy and Premium categories, whilst the Leafy category met with less demand. 

In the Leafy and Semi-Leafy catalogues, well-made BOP1’s were maintained at firm levels, whilst the Below Best and bolder varieties declined in value. Teas at the bottom remained steady. Well-made OP1’s continued to sell at last levels, whilst the balance was irregular. Well-made OP’s were firm, whilst the cleaner Below Best and shorter leaf varieties were irregular. The balance was sold around last levels. High-priced OPA’s maintained, whilst the balance was irregular. Select Best PEK’s remained firm, whilst the Best, mixed/open leaf types and teas at the bottom were easier. Overall, PEK1’s appreciated. 

In the Tippy catalogue, FBOP’s in general were firm, whilst the bolder varieties were irregular following quality. Select Best FF1’s sold at last week’s levels, whilst the Best were firm to easier. Below Best and teas at the lower end sold around last week’s levels.

In the Premium catalogue, very Tippy teas were firm, whist the Best and Below Best were firm to selectively dearer. The balance were irregular.