Tea prices steady to lower as export demand remains uneven

The total auction offerings were marginally higher to the previous week and totalled 6.2 million kilogrammes (M/Kgs). 

The Leafy and Semi-Leafy teas in the Mid and Low Grown elevations continued to meet with good demand, realising fairly remunerative prices for the time of year.  The High and Mid Grown Orthodox Rotovane type BOP/BOPFs, which commenced on a firm to dearer note, tended to ease off on the opening levels by the close.

The Ex-Estate offerings were marginally lower and totalled 0.96 M/Kgs. The overall quality was barely maintained, with a greater availability of teas comprising of plainer to fair average quality teas.

The demand for the liquoring teas was often centred around the cup colour and strength and the teas that did not meet with this requirement often tended to be neglected.

Against the backdrop of the past couple of weeks, the offerings continued to be of a similar composition of quality. The Select BOP/BOPF invoices from the Western slopes appreciated by Rs.20-40 per kilogramme, often following quality.  In the tea for price category too, at the commencement of the auction, a firm to marginally dearer trend was observed, as the current levels often would reflect good value, particularly in US dollar terms.  However, and concerningly, this trend was not fully maintained towards the close. The High and Mid Grown CTCs were perhaps most impacted with the large volumes remaining unsold and where sold, often realised prices Rs.20-40 per kilogramme, below the previous week’s levels. The corresponding Low Grown varieties continued to sell around last and were often readily absorbed.   

Less activity was seen from the shippers to the UK and continent. Fair interest was seen from the shippers to Japan and China on a selective basis, whilst the shippers to the CIS and Middle East continued to be fairly active often at lower levels.  The Low Growns totalled approximately 2.5 M/Kgs, with all categories witnessing fair demand. In the Leafy and Semi-Leafy catalogues, the Select Best BOP1s together with the Below Best and bolder sorts were easier, whilst the Best varieties and teas at the bottom sold around last levels.  The OP1s, in general, were firm. The high-priced OP/OPAs maintained, whilst the balance was easier. The Select Best and Best PEK/PEK1s sold at last levels, whilst the balance declined.

In the Tippy catalogue, the well-made FBOPs were firm to dearer, whilst the cleaner Below Best sold around last levels. The balance eased. The Select Best FF1s were firm, whilst the balance in general were lower.

In the Premium catalogue, the Very Tippy teas were irregular, whilst the balance sold around last levels.