Weekly Tea Market Report

WEEKLY TEA MARKET REPORT - SALE NO: 29 - 22^ND/23^RD JULY 2024

Auction offerings totalled 5.8 million Kgs. Low Grown/Leafy teas - Better sorts continued to sell well, whilst the others were easier. OP/OPA grades were most impacted with an increased volume of tea remaining unsold.

Ex-Estate offerings totalled 0.8 million Kgs. Overall quality of teas were barely maintained with greater availability of offerings comprising of fair average quality.

Best Western - Select BOP invoices gained by Rs. 50 per kg and more following special inquiry, whilst the others were irregular following quality. Corresponding BOPF's sold around last week's levels. In the Below Best category, clean leaf coloury BOP's were firm and Rs. 50 per kg dearer, whilst the others sold around last. Corresponding BOPF's mostly sold around last week's levels, except in the case of distinct quality variances. At the lower end, BOP's were firm and Rs. 50 per kg easier, whilst the corresponding BOPF's were generally firm. Nuwara Eliyas' had hardly any offerings. Uda Pussellawa - Clean leaf BOP/BOPF's were firm, whilst the others were Rs. 20-40 per kg lower. Uva BOP's were Rs. 50-100 per kg dearer, whilst the corresponding BOPF's appreciated by Rs. 20-30 per kg.

High & Mid Grown CTC teas - BP1's declined by up to Rs. 100 per kg, whilst the PF1's were up to Rs. 50 per kg easier mostly following g quality. Corresponding Low Grown varieties sold around last week's levels with select neat leaf PF1 invoices appreciating by Rs. 20 per kg.
The better teas continued to be supported by shippers to the UK, Japan and the continent with improved activity from South Africa, whilst there was widespread interest for teas at the lower end.

Low Growns comprised of 2.5 million Kgs. The Leafy category met with less demand, whilst the Semi-Leafy and Tippy categories met with fair demand.

In the Leafy and Semi-Leafy catalogues, Select Best BOP1's were easier, whilst the Best varieties were firm. Below Best varieties together with the clean leaf teas at the bottom declined substantially. Well-made OP1's were firm, whilst the balance declined. Select Best OP/OPA's declined by Rs. 50-100 per kg, whilst the others eased further. A few high-priced PEK/PEK1's were firm, whilst the balance declined. In the Tippy catalogues, Select Best FBOP's were firm, whilst the others in general declined. Well-made FF1's sold around last levels, whilst the others declined.

In the Premium catalogues, a few Select Best Tippy teas were firm to dearer, whilst the Best together with the Below Best varieties were easier following quality.

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