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Tea auctions this week

Aug 18, 2011 9:05:16 PM - www.ft.lk

Overall auction offerings declined further this week and totalled 7m/kgs.
Ex-Estate offerings declined to a 1.1m/kgs the lowest quantity at a sale in almost five months. There was fair demand, mostly at irregularly firm rates.

The better Western BOP/BOPF were firm and tended a little dearer, whilst prices at the lower end of the market was mostly firm. The limited availability of seasonal Uvas was irregular following quality.
Nuwara Eliyas continued to be a disappointing feature with many withdrawals due to lack of suitable bids. All CTCs witnessed a firm trend in prices whilst the Low Grown counterparts sold well in comparison.
Off Grades followed a similar trend and declined up to Rs. 10 per kg. Majority of the primary Dusts lost Rs. 10-30 on average. Cleaner secondaries were barely steady whilst the poorer sorts declined in value.   
Low Growns comprised of 3.3m/kgs in the Leafy/Tippy catalogues. There was fair general demand. In the Leafy catalogue select best BOP1s declined Rs. 10-20. Others were however, firm to dearer.
OP1s too maintained. Better OP/OPAs were lower. Here again, teas at the bottom end were firm to irregularly dearer. Pekoes were irregular and often declined Rs. 5-10, whilst the Pekoe1s were barely steady.
In the Tippy catalogues there was better demand for well made FBOP/FF1s. Cleaner secondaries too were fully firm. At the lower end too, cleaner types gained whilst others were mostly firm. CIS, Dubai, Turkey, Iraq, Saudi Arabia together with Kuwait were active this week.
(Source: Forbes and Walker Tea Brokers)

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