Weekly Tea Market Report

WEEKLY TEA MARKET REPORT - SALE NO: 4 - 25TH/ 26TH JANUARY 2022

A significant increase in Auction offerings, which totalled 6.95 million Kgs. The additional volume emanates from a non-closure of a catalogue during the Christmas holiday period and as such, a 2 weeks collection. There was good demand all round.

Ex-Estate offerings totalled 1.0 million kg up from the previous week's 0.73 million Kgs. Quality of offerings, particularly from the Western slopes, were improved with a wider selection of teas on offer. Nuwara Eliyas' together with the Uva/Uda Pussellawas' too had on offer select improved invoices.

Best Western BOP/BOPF's gained Rs. 20-40 per kg and more for select invoices following special inquiry. In the Below Best category, select improved teas gained substantially following special inquiry, whilst the others were firm and Rs. 10-20 per kg dearer. At the lower end of the market, BOP's were firm and Rs. 20-30 per kg dearer, whilst the corresponding BOPF's were firm and Rs. 10-20 per kg dearer. However, this momentum was not maintained towards the close of the sale with prices tending to ease off particularly for teas at the lower end of the market. Nuwara Eliyas' failed to realise a fair price in relation to the available product quality particularly for the BOPF grade, which was neglected. Uda Pussellawas' showed an increase in prices, which often reflected an improvement in product quality.  Uva - Better BOP/BOPF's gained Rs. 30-50 per kg and Rs. 20-30 per kg respectively, whilst the poorer plainer sorts were firm to marginally dearer.

High and Mid Grown CTC - BP1's had limited offerings and prices were irregular following significant qualitative variances. The PF1's - better made brighter sorts were firm and dearer, whilst the poorer counterparts were neglected. Low Grown varieties continued to sell well notwithstanding some price variances, once again, following quality.   

Low Growns comprised of 2.9 million Kgs in the Leafy/Semi Leafy and Tippy catalogues. There was improved demand.

In the Leafy and Semi Leafy catalogues, select Best BOP1/OP1's were fully firm to dearer, whilst the clean Below Best varieties gained substantially. Others and poorer sorts too were fully firm to selectively dearer. Well-made OP/OPA's in general gained substantially, whilst the others and poorer sorts too were firm to dearer. Select Best PEK/PEK1's were fully firm to selectively dearer, whilst the others and poorer sorts maintained.

In the Tippy catalogues, select Best FBOP's maintained, whilst the Best and cleaner Below Best appreciated. Balance too were dearer to a lesser extent. Select Best FF1's appreciated, whilst the Best sold around last levels. However, the Below Best and teas at the bottom appreciated.

In the Premium catalogues, Very Tippy teas continued to attract good demand. Best and cleaner Below Best appreciated substantially, whilst the balance too were dearer to a lesser extent.

TEA AUCTION DETAILS

AUCTION NO.

06

05

Dates

08th /09th Feb 2022
No. of Lots     No. of Kgs

31st Jan/01st Feb 2022
No. of Lots     No. of Kgs

Ex Estate

716

834,340 kg

847

963,415 kg

High & Medium 1,125

573,782 kg

1,525

762,520 kg

Low Growns        Leafy

Semi Leafy

1,844

1,321

765,745 kg
593,083 kg

2,051

1,512

858,654 kg
679,915 kg

Tippy

1,983

1,035,171 kg

2,333

1,236,976 kg

Premium/Flowery

343

56,907 kg

375

69,535 kg

Off Grades

2,100

1,126,880 kg

2,635

1,464,737 kg

Dust

433

429,479 kg

602

606,743 kg

Grand  Total

9,865

5,415,117 kg

11,880

6,642,495 kg

(Source- Forbes & Walker Tea Brokers)