Weekly Tea Market Report

WEEKLY TEA MARKET REPORT - SALE NO: 10 - 10TH/ 11TH MARCH 2020

The 10th Sale of the year had on offer a total of 5.5 million Kgs. Low Growns (Leafy teas) continued to meet with good demand, whilst the High and Mid Grown Small Leaf teas witnessed less demand with the exception of the seasonal teas that were readily absorbed at fairly attractive prices.

Ex-Estate offerings totalled 0.86 million Kgs and met with fair general demand often at easier rates barring the seasonal teas, which sold well. Prices for BOP's with the exception of the seasonal teas were a concern, with the brighter Below Best sorts declining up to Rs. 50 per kg. BOPF's, in general, recorded a decline of Rs. 10-20 per kg and were readily absorbed at these levels. The limited availability of Nuwara Eliyas sold well in keeping with the seasonal Westerns. Uva/Uda Pussellawas encountered a lower trend following the declining quality.

Notwithstanding the limited availability, prices for the plainer sorts continued to be discounted resulting in the price parity between the better teas and their poorer counterparts widening further. Yet another notable feature would be the price parity between the BOP/BOPF grade, where the latter commanded a significant premium excluding teas in the seasonal category where the BOP's secured a premium.

High and Mid Grown CTC's - BP1's were neglected with a majority of teas remaining unsold, whilst the PF1's, where quality was maintained, sold around last week's levels. Corresponding Low Grown types held firm.   

Low Growns comprised of 1.9 million Kgs in the Leafy/Tippy catalogues, which was marginally lower to the previous week. In the Leafy catalogue, OP1/BOP1's were dearer. OP/OPA's too were dearer all around.  PEK/PEK1's met with good demand and appreciated on last levels. In the Tippy catalogue, better FBOP/FF1's were firm. Best tended irregular. Cleaner teas at the bottom appreciated, whilst the poorer sorts declined. Well-made Tippy teas in the Premium catalogue were dearer. Teas in the Below Best too gained. Teas at the bottom tended irregular.

There was good demand from shippers to CIS, Turkey, Saudi Arabia, Iraq and Dubai this week.

Tea Auction Details

AUCTION NO.

12

11

Dates

24th/25th Mar 2020
No. of Lots     No. of Kgs

17th/18th Mar 2020
No. of Lots     No. of Kgs

Ex Estate

646

722,852 kg

760

860,533 kg

High & Medium

1,301

644,628 kg

1,406

696,433 kg

Low Growns        Leafy

     Tippy

2,482

1,282

996,335 kg
605,772 kg

2,871

1,493

1,179,409 kg
729,193 kg

Premium/Flowery

209

32,749 kg

241

39,869 kg

Off Grades

1,964

1,133,655 kg

1,922

1,104,621 kg

Dust

456

453,068 kg

545

538,266 kg

Grand  Total

8,340

4,589,059 kg

9,238

5,148,324 kg