November, 19, 2020
Tea auctions this week saw fair general demand at slightly easier rates and a total of 5.5 M/Kgs were on offer, Forbes and Walker said in its latest report.
"Ex-Estate offerings totalled 0.65 M/Kgs, marginally lower to the 0.73 M/Kgs on offer in the previous week. BOP's met with good demand, whilst the BOPF's in the Best and Below Best categories were mostly easier," it said.
"However, teas at the lower end of the market remained firm," it added.
Best Western BOP's, which commenced firm, appreciated selectively and at times substantially following special inquiry particularly as the sale progressed.
Corresponding BOPF's were often Rs. 10-20 per kg easier with the exception of a handful of invoices which appreciated by a similar margin. In the Below Best category BOP's gained Rs. 10-20 per kg, whilst the corresponding BOPF's were irregular.
At the lower end, BOP's gained Rs. 20-30 per kg, whilst the corresponding BOPF's were firm and Rs. 10-20 per kg dearer for the clean leaf invoices. Nuwara Eliyas - the very limited availability of BOP/BOPF invoices continued to sell at premium levels. Uva/Uda Pussellawa BOP's gained Rs. 20 per kg and more for clean leaf teas. Corresponding BOPF's were firm and tended dearer.
High and Medium CTC teas continued to be buoyant and mostly sold at firm to marginally dearer rates. Corresponding Low Grown varieties witnessed a further price correction this week and declined by Rs. 20 per kg and more following quality.
Low Growns totalled 2.7 M/Kgs in the Leafy/Semi Leafy and Tippy catalogues this week. Quality on offer showed no appreciable change. There was fair demand at lower levels. OP1/BOP1's were mostly lower to last with the high priced teas declining fairly substantially, particularly where quality was not maintained. OP/OPA's too declined Rs. 20-30 per kg.
At the Lower end, however, there was good demand with prices maintaining last levels. PEK/PEK1's declined Rs. 10-20 per kg and more for the Below Best varieties.
In the Tippy catalogues, better FBOP/FF1's were irregular. Cleaner secondaries though irregular were generally firm. At the lower end, prices were firm on last. In the Premium catalogue, better teas were fully firm to dearer. Others were irregular, particularly where quality was not maintained.