The 8th sale of the year concluded this week had on offer a total of 5.5 million Kgs, of which Ex-Estate offerings totalled 0.8 million Kgs. Low Growns and broadly the large leaf teas continued to sell well, whilst the High and Medium Grown small leaf teas witnessed a selective market.
Ex-Estate offerings comprised of a fairly useful selection of seasonal Westerns/brighter teas. It was heartening to witness the seasonal teas (particularly the BOP invoices) with an element of flavour appreciating substantially in value. The corresponding BOPF's witnessed less inquiry and often tended easier.
The concerning factor was the lack of demand for teas in the Below Best category and particularly, the BOP grade which over the past two weeks has collapsed with very little interest and consequently, a fair weight of teas in this category remaining unsold, perhaps due to a lack of demand from China and Taiwan.
Renewed interest for Nuwara Eliyas and substantial improvement in prices is indeed re-assuring. Teas from the Uda Pussellawa Region were neglected, perhaps due to its very limited availability, whilst the Uva BOP's sold around last and corresponding BOPF declined Rs. 20-40 per kg.
High and Medium Grown CTC teas followed a similar trend and declined Rs. 20-40 per kg, whilst the Low Grown varieties sold around last week's levels with price fluctuations reflecting variances in quality.
Low Growns comprised of approximately 2.2 million Kgs in the Leafy/Tippy catalogues. There was good demand, particularly for the teas at the lower end. In the Leafy catalogue, Select Best BOP1/OP1's met with good demand and the prices were fully firm to dearer. Others were irregular and lower. At the lower end, prices were fully firm to dearer. Select Best PEK/PEK1's maintained. Others and Below Best types declined Rs. 10-20 per kg and more. In the Tippy catalogue, Select Best FBOP's were firm to irregularly dearer, whilst others and the FF1's were easier to last. At the lower end, however, there was good demand and prices were fully firm to dearer. In the Premium catalogue, better teas were fully firm to irregularly dearer, whilst others were lower following quality. There was good demand from shippers to Iraq, CIS and Saudi Arabia, whilst Turkey and Dubai too were active.
AUCTION NO. |
10 |
9 |
||
Dates |
10th/11th Mar 2020 |
03rd/04th Mar 2020 |
||
Ex Estate |
751 |
864,927 kg |
720 |
834,203 kg |
| High & Medium | 1,405 |
707,653 kg |
1,348 |
676,917 kg |
|
Low Growns Leafy Tippy |
3,317 1,748 |
1,421,024 kg
|
3,081 1,655 |
1,297,861 kg |
Premium/Flowery |
277 |
50,766 kg |
247 |
47,695 kg |
Off Grades |
2,066 |
1,179,577 kg |
2,089 |
1,163,430 kg |
Dust |
597 |
607,745 kg |
538 |
510,484 kg |
Grand Total |
10,161 |
5,721,129 kg |
9,678 |
5,385,897 kg |
