Buyers paid premium prices for both high and low grown teas.
This week’s auction offerings declined to 6.3M/kgs from 6.8M/kgs in the previous week. There was good demand.
Commenting on the auctions, Forbes and Walker Tea Brokers said ex-estate offerings declined to 1M/kgs this week from 1.1M/kgs in the previous week.
Best Western BOPs were irregular following quality whilst the corresponding BOPFs declined up to Rs. 20 per kg. In the below best category brighter BOPs sold at firm to dearer rates, whilst the corresponding BOPFs sold around last levels. Plainer sorts declined Rs. 10-20 per kg. Nuwara Eliyas were irregularly firm.
Uva/Udapussellawa BOPs declined Rs. 10-20 per kg and more for last week’s high priced Uvas, whist the corresponding BOPFs were firm and Rs. 10-20 per kg lower.
The majority of High Grown CTC teas were irregular following quality, whilst the Low Growns continued to sell well, particularly the best on offer. Liquoring leafy teas met with improved demand and appreciated in value following quality.
There was strong buying from shippers to the CIS, whist South Africa, Japan, UK and the Continent bid selectively.
Forbes also said Low Growns comprised of approximately 3.5M/kgs in the Leafy/Tippy catalogue this week. There was good demand. In the Tippy catalogue with the exception of the select best FBOPs, others were fully firm, whilst FF1s too were fully firm to dearer. A range of Tippy invoices too gained selectively whilst others maintained.
In the Leafy catalogue too, high priced BOP1/OP1s were lower, whilst others were fully firm to dearer. OP/OPAs too sold at firm to irregularly dearer rates. Here again the high priced teas were lower to last. PEK/PEK1s were mostly firm with the exception of a few high priced teas that were irregularly lower. CIS operated on a fair selection of teas whilst Dubai, Iraq Turkey and Kuwait too were active.