Weekly Tea Market Report

WEEKLY TEA MARKET REPORT - SALE NO: 24 - 18TH/ 19TH JUNE 2019

The auction offerings recorded a significant increase and totalled 7.8 million kgs. Overall, quality of teas showed no change with a fair weight of offerings comprising of average to poor quality teas.

Ex-Estate offerings increased and totalled 1.2 million kgs. Here again, quality of offerings showed no appreciable change, whilst there was slightly better demand for a selection of brighter liquoring teas from the Western planting districts.

Best Westerns - select invoices gained Rs. 20-30/- per kg and more following special inquiry, whilst the corresponding BOPF gained Rs. 10-20/- per kg. Others were barely steady. In the Below Best category BOP's were irregular and barely steady, whilst a selection of BOPF gained Rs. 10-20/- per kg. Others were irregular. Plainer BOP's irregular and barely steady. Corresponding BOPF - clean leaf teas Rs. 10/- per kg dearer. Others were irregular and barely steady. Nuwara Eliyas continued to meet with limited interest following plainer quality. Udapussellawa BOP's declined Rs. 10-20/- per kg, whilst the corresponding BOPF declined Rs. 10/- per kg on average. Uvas declined Rs. 20-30/- per kg all around. High & Mid Grown CTC's continued to weaken by Rs. 10/- per kg and more, and follows a similar trend experienced at the Mombasa Tea Auctions this week. Low Grown varieties - BP1 declined Rs. 20-30/- per kg, whilst select PF1's appreciated by a similar margin. Others continued to sell around last week's levels.

Low Growns comprised of approximately 3.4 million kgs in the Leafy/Tippy catalogues. Quality was lower to last. Consequently, a few select best OP1's maintained, whilst the others were mostly lower. BOP1's too were generally easier barring a range of improved Below Best that held firm. A selection of well-made OPA's too maintained, whilst the others were lower. OP's were generally lower to last. Here again, a range of clean Below Best types held firm. At the lower end. however, OP/OPA's met with good demand and prices maintained. A selection of better PEK/PEK1's maintained, whilst a range of bolder PEK's too gained Rs.10-20/- per kg and more. Balance were barely steady. In the Tippy catalogue, select best FBOP/FF1's together with a range of cleaner secondaries maintained. whilst the others were lower following quality. In the Premium catalogue, prices were firm on last. There was good demand from shippers to Iraq whilst CIS, Dubai and Turkey too were active.

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