Fair demand at tea auctions this week

A total of 5.9 M/ Kgs was on offer this week. There was fair demand. In the backdrop of the Sri Lankan Rupee strengthening, prices for almost all categories of tea declined further this week.

Ex- Estate offerings were similar to last and totalled 1.0 M/ Kgs. Overall quality was barely maintained with a larger volume of offerings consisting of average to plain quality teas.

The limited availability of the Select Best Western BOP/ BOP Fs were firm, whilst the others declined up to Rs. 50 per kg. In the Below Best category, a selection of the better BOP’s were up to Rs. 50 per kg easier, whilst the others declined up to Rs. 100 per kg and more following quality. Corresponding BOPF’s declined Rs. 50- 80 per kg. Plainer BOP’s declined Rs. 50- 70 per kg, whilst the corresponding BOPF’s declined Rs. 50- 60 per kg and more. Nuwara Eliyas’ were irregular and sharply lower. Uda Pussellawa BOP’s declined Rs. 100 per kg and more. Corresponding BOP F’s – Best available were barely steady, whilst the others declined by up to Rs. 100 per kg and more for select invoices following quality. Uva – Few select BOP invoices appreciated by up to Rs. 50 per kg following special inquiry, whilst the others declined by a similar margin and more for the thinner liquoring teas. Corresponding BOPF’s eased up to Rs. 50 per kg, on average.

High and Medium Grown CTC – BP1’ s were irregular and easier, whilst the PF1’ s declined Rs. 50 per kg and more. Low Grown varieties – BP1’ s were substantially easier, whilst the PF1’ s sold around last.

Low Growns comprised 2.2 M/Kgs. Leafy, Semi-Leafy and Tippy markets met with fair demand at easier rates.

In the Leafy and Semi-Leafy catalogues, select Best BOP1/ OP1’ s were firm, whilst the others eased. OP/ OPA’s, in general, declined. A few select Best PEK/PEK1’s sold around last levels, whilst all others declined.

In the Tippy catalogues, well-made FBOP’s were firm to marginally easier, whilst the cleaner Below Best and cleaner teas at the bottom were firm. Balance was easier following quality. FF1’s, in general, were lower.

In the Premium catalogues, very Tippy teas together with the Best and cleaner Below Best appreciated, whilst the balance were easier following quality.