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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ »  Sri Lanka high grown teas see pick up

Sri Lanka high grown teas see pick up

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1 Sri Lanka high grown teas see pick up Empty Sri Lanka high grown teas see pick up Mon Aug 17, 2020 11:18 pm

fireshelter

fireshelter
Associate Director - Equity Analytics
Associate Director - Equity Analytics

Sri Lanka’s High Grown teas, the cheapest teas in the island, saw a slight pick up in the first sale in August amid fair demand while the more expensive Low Growns saw prices eased, brokers said.
Sri Lanka sold 6.95 million kilograms of tea, selling 0.9 million kilograms in Ex-Estate teas (teas sold while in the factory itself to retain quality) while selling 3.1 million kilograms in Low Grown (Leafy/Tippy) teas.

It was reported that 6.1 million kilograms of tea were sold in total at the auction held last week.
High Growns
Brokers said that Ex-estate teas saw fair demand at irregular levels, while Low Growns saw lower demand in a brief auction held on 11 and 12 August.
Last week, the High Grown auction average was tea sale average of 543.71rupees.
In BOP grades, Best westerns where quality was maintained, picked up by 10-20 rupees a kilogram while the others sold around last week’s levels.

Improved Below best BOP teas gained by 20 rupees per kilogram while plainer sorts were not steady.
BOP Nuwara Eliya’s were generally firm. A few select brighter Uva’s teas went up by 30-40 rupees a kilogram while Uda Pussellawa prices were lower by 10 rupees.
In BOPF grades, good quality Best Westerns were lower by 10 rupees a kilogram while Below best clean leaf teas gained by 10-20 per kilogram, brokers said.
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BOPF grade Nuwara Eliya’s were reportedly firm. Uda Pussellawa were firm while Uva’s gained by 30-40 rupees a kilogram.
Medium Growns
Last week, the Medium Grown auction average was 541.60 rupees up 7.66 rupees from a week before.
Select best OP/OPA’s were firm on last, whilst others together with the teas in the lower end gained10-20 rupees a kilogram. BOP prices were generally firm while BOPF grades clean leaf coloury sorts weren’t steady, tea brokers said.

Select Best FBOPs prices were down by 20-30 rupees whilst others firm to selectively making gains.
Select best FF1’s prices were marginally firm to making selective gains.
Low Growns
Last week the Low Grown tea sale average was 669.45 rupees down by 16.21 rupees from a week earlier.
A few select best BOP1’s maintained last week’s prices. Other high priced teas were lower following poor quality.
Select best and best BOP’s maintained whereas cleaner below best and cleaner teas at the bottom were picked up in prices.
Better OPA’s were barely steady. Others were fully firm to dearer. High priced OP’s were irregular
Well made, very tippy FBOPF/FBOPF1teas attracted good demand while Bests and cleaner Below picked up selectively.

Select best and best FF1’s were firm to selectively dearer.
CTC
In CTC teas, high grown BP1s were irregular while PF1s were not steady.
Mid grown BP1 prices were irregularly while PF1 prices sold around last auction’s levels brokers said.

Low grown BP1s were mostly firm and, brokers said. PF1s were firm to easing marginally as the sale progressed.
Crop
The Department of Meteorology predicts showers in the Nuwara Eliya and Western regions in the week ahead. Uva areas should expect showers/thundershowers are forecast in the evenings while Low grown areas too will receive showers.
Western/Nuwara Eliya regions reported dull mornings and evening showers throughout the week.

Uva region reported bright mornings and overcast evenings during the week while Udapussellawa areas reported clear mornings and evening showers.
Low Growns reported overcast mornings and evening showers during the week.
The Department of Meteorology predicts showers in the week ahead
The Western, Nuwara Eliya, Uva and Udapussellawa regions experienced a decrease in the crop intake, whilst selected estates in the Low Grown Region maintained. (Colombo/Aug17/2020

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