Weekly Tea Market Report

WEEKLY TEA MARKET REPORT - SALE NO: 2 - 13TH/ 14TH JANUARY 2020

The second sale of the year comprised of 6.4 million Kgs. There was good demand.

Ex-Estate offerings were similar to last and totalled approximately 1 million Kgs. Quality of offerings, particularly from the Western slopes, showed signs of seasonal improvement together with a few select Nuwara Eliya invoices, whilst teas from the Uva/Uda Pussellawa regions showed no change. There was widespread demand which helped absorb most offerings at reasonable price levels. Best Western BOP's where quality was maintained and/or improved were firm and gained Rs. 20 per kg and more following special inquiry, whilst the corresponding BOPF's tended irregular. In the Below Best category, select improved BOP's were substantially dearer, whilst the others gained Rs. 10-20 per kg.

Corresponding BOPF's were firm and Rs. 10-20 per kg dearer. At the lower end of the market, clean leaf and improved liquoring BOP's gained Rs. 10-20 per kg, whilst the others were barely steady. Corresponding BOPF's followed a similar trend with the brighter sorts gaining in value. Nuwara Eliyas were neglected, notwithstanding a few select teas being brighter to last.  Uda Pussellawa BOP's were mostly firm, whilst the corresponding BOPF's gained Rs. 10-20 per kg. Uva BOP's generally sold around last though select well-made teas appreciated sharply, whilst the BOPF's were substantially dearer.

CTC teas and particularly, the BP1 grade met with improved demand and consequently gained Rs. 20 per kg and more. PF1's were firm and selectively dearer with the better teas gaining up to Rs. 20 per kg.

With the brighter weather conditions experienced in most High Grown plantations, teas are likely to show further improvement in seasonal quality at the ensuing sales and we expect auction quantities to show a gradual decline from now on.   

Low Growns totalling 2.8 million kgs in the Leafy/Tippy catalogues met with good demand. In the Leafy catalogue, BOP1/OP1's sold at fully firm to dearer rates barring a few high priced OP1's which were irregular following quality. OP/OPA's were fully firm to dearer, particularly for a selection of improved below best sorts. PEK/PEK1's too were mostly firm. In the Tippy catalogue FBOP/FF1's were irregular and lower. A selection of cleaner secondaries however maintained. At the lower end, cleaner types were firm, whilst others were barely steady. In the Premium Catalogue, there was good demand and prices were mostly dearer to last. There was good demand from shippers to CIS, Turkey, Saudi Arabia, Dubai and Iraq this week.

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