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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Tea auction brews over 20 all-time high prices

Tea auction brews over 20 all-time high prices

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Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
This week’s tea auction produced over 20 all-time high prices or equalled best levels in a trend reflecting improved demand for the country’s black gold.

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.
http://www.ft.lk/2013/10/31/tea-auction-brews-over-20-all-time-high-prices/

sriranga

sriranga
Co-Admin
Thirteen lines of tea sold through Forbes & Walker Tea Brokers Ltd. at this week’s tea auctions established all-time record prices while four lines of tea equalled all time record price.

The marks which established all-time record prices were Cee Tee Hills (four lines), Kalubowitiyana (two lines) Craighead (one line), Dombagastalawa (one line), Nadoo Totem (one line), Sarnia Plaiderie (one line), Gordon (one line), Pothotuwa (one line) and Bearwell (one line). Whilst two lines from Mount Vernon, one line from Harangalla and one line from Craighead equalled all-time record prices.
Forbes & Walker Tea Brokers Ltd. is the sole broker for six of these marks.

Dombagastalawa sets an all-time record price
At this week’s Tea Auctions, Dombagastalawa Mark of Kataboola Estate which is owned and managed by Kahawatte Plantations PLC established new all-time record price of Rs. 980 per kilogram for a OP1 Grade, surpassing the previous record of Rs. 920 per kilogram.

This line of tea was purchased by Euro Scan Exports Ltd. and the sale was conducted by Forbes & Walker
Tea Brokers Ltd. who is the sole broker for Dombagastalawa mark.

Nadoo Totem mark enters record books
Nadoo Totum mark of Keliewatte Estate which is owned and managed by Kotagala Plantations PLC established an all-time record price of Rs. 740 per kilogram for a FBOPF1 Grade in the Western High Grown Elevation Category surpassing the previous all-time record price of Rs. 720 per kilogram.

This line of tea was purchased by Imperial Teas Ltd. Forbes & Walker Tea Brokers Ltd. who is the sole broker for Keliewatte mark, conducted this sale.

Sarnia Plaiderie breaks own record
Sarnia Plaiderie Mark established an all time record price of Rs. 1150 per kilogram for a line of FBOP1 grade at this week’s Tea Auctions in the Uva Medium Elevation Category. This surpassed the previous all time record price of Rs. 1,000 per kilogram established by them on 14 October 2013. The buyer of this line of tea was Euro Scan Exports Ltd.

Sarnia estate situated in the Badulla / Hali Ela sub district of the UVA planting district and falls within the Uva Medium Elevation Category.

Sarnia Estate is owned and managed by Malwatte Valley Plantations PLC who also own and manage the best reputed marks which produce Uva Flavoury teas sought after by connoisseurs of tea world over.
Forbes & Walker Tea Brokers Ltd. conducted the sale of this line of tea.

Gordon Breaks own record
Gordon Mark established an all time record price of Rs. 630 for a BOP1 grade in Uda Pussellawa Agro Climatic Region which surpassed the previous record of Rs. 570 per kilogram established by them at the sale of 30 July 2013.

This line of tea was purchased by Basilur Tea Export Ltd.

Gordon Estate is managed by Stallion Plantations Ltd. The sale of this line of tea was conducted by Forbes & Walker Tea Brokers Ltd. who is sole broker for Gordon Mark.

Pothotuwa in the record books
Pothotuwa is one of the best Low Grown Marks in the country highly recognised in the trade for its quality and consistency. The BOP grade of Pothotuwa is considered as a high-value tea which has been regularly sought after by the buyers.

At this week’s tea auctions, Pothotuwa’s BOP Grade established an all-time record price of Rs. 880 per kilogram which surpassed the previous all time record price of Rs. 860.

This line of tea was purchased by M/s Imperial Teas (Pvt) Limited

Pothotuwa factory is owned by Anil Alwis, a senior planter and factory owner who has always been striving for excellence in product quality and achieving same successfully.

Forbes & Walker Tea Brokers Ltd. has been associated with Pothotuwa for over two decades as their sole broker, conducted this sale.

Bearwell Teas enters all-time record books
Bearwell Mark, which has been producing true to type quality Dimbula Teas, have been rewarded for their consistency and quality with an all time record price of Rs. 650 per kilograms for a BOPS grade at this week’s Tea Auctions. This surpassed the previous all time record price of Rs. 640 by them in September 2013.

This line of tea was purchased by UK Beverages Ltd.

Bearwell is situated in the Talawakelle agro climatic sub district in the heart of Dimbula Valley and is owned and managed by Talawakelle Tea Estates PLC, a company which is undoubtedly the best Quality High Grown Orthodox Tea Producer in Sri Lanka with seven marks occupying the first ten positions in the Western High Grown price category.

Forbes & Walker Tea Brokers Ltd. conducted the sale of this line of tea.
http://www.ft.lk/2013/10/31/forbes-walker-tea-brokers-continues-to-brew-all-time-record-prices/

http://sharemarket-srilanka.blogspot.co.uk/

seek


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
'Forbes & Walker Tea Brokers Ltd' when I can see you as 'Forbes & Walker Tea Brokers PLC'

smallville

smallville
Associate Director - Equity Analytics
Associate Director - Equity Analytics
As per the article;
Kahawatte Plantations PLC's OP1 Grade tea - Rs. 920 per kilogram.
Kotagala Plantations PLC's FBOPF1 Grade tea - Rs. 740 per kilogram
Malwatte Valley Plantations PLC's FBOP1 grade tea - Rs. 1150 per kilogram
Talawakelle Tea Estates PLC's BOPS grade tea - Rs. 650 per kilograms

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