First tea auction of year kicks off on positive note

The first sale of the year began on a positive note, with the tea prices reflecting a firm to dearer trend, perhaps emanating from a combination of an absence of an auction last week, declining volumes and recent depreciation of the Sri Lankan rupee, Forbes and Walker Tea Brokers said.
The auction offerings totalled 6.0 million kilogrammes (M/Kgs). The estate offerings totalled 0.8M/Kgs. There was no significant change in quality. 
The High and Mid Grown CTC teas continued to sell around last week’s levels, with the Select Best PF1s in the High Grown category appreciating by up to Rs.100 per kilogramme against the backdrop of limited availability. The corresponding BP1s too – Better sorts, often sold well. In the Mid and Low Grown categories – the PF1s sold around last week’s levels, whilst the BP1s were irregular. 
The Low Growns comprised of 2.4 M/Kgs. All categories met with fair demand. 
In the Leafy and Semi-Leafy catalogues, the Select Best BOP1s were dearer. The best varieties were firm, whilst the balance together with the bolder varieties appreciated. The OP1s were firm to dearer. The OPs, in general, were dearer. The well-made OPAs, together with the Below Best and cleaner teas at the bottom, were firm to dearer, whilst the balance was irregular.

The high-priced PEK/PEK1s appreciated. The best varieties sold around last levels, whilst the Below Best and mixed varieties were easier. However, the teas at the bottom, in general, appreciated.
The FBOPs, in general, were firm to dearer. The well-made FF1s were firm. The cleaner Below Best and clean leaf teas at the bottom were firm to dearer, whilst the balance was irregular.
In the Premium catalogue, the smaller Very Tippy varieties were firm, whilst the leafier types appreciated. The Best and Below Best together with the teas at the bottom were firm on last.