Sri Lanka tea see good demand at auction

Jan 11, 2016 (LBO) – Sri Lanka tea’s weekly Auction concluded seeing good demand with high grown tea prices recording gains and low grown teas fluctuating, a report said.

“There was good demand.  Prices for low grown teas tend to fluctuate whilst the prices for high and medium grown small leaf teas continued to be buoyant,”  Forbes & Walker Tea Brokers said in a report.

“Western BOP’s gained 30-40/- rupees per kg. BOPF –Best Western’s gained  20-30/- rupees per kg and more for select invoices.”

Low Growns comprised of approximately 3.1M/kgs in the Leafy/Tippy catalogues, it said.

The full statement follows

A total of 6.3M/Kgs came under the hammer this week. There was good demand. Once again, prices for Low Grown teas tend to fluctuate whilst the prices for High and Medium Grown small leaf teas continued to be buoyant.

Ex-Estate offerings recorded a slightly higher volume and totalled a 1.0M/kgs vis-à-vis the 0.9M/kgs on offer the previous week whilst the overall quality of teas showed no significant change. Western BOP’s gained Rs. 30-40/- per kg. BOPF –Best Western’s gained Rs. 20-30/- per kg and more for select invoices. BOPF’s in the below best category which at the commencement of the sale recorded price gains of Rs. 20-40/- per kg, appreciated further as the sale progressed. Plainer BOPF’s which at the commencement were Rs. 20/- per kg dearer followed a similar trend and appreciated as the sale progressed. Nuwara Eliya BOP’s – brighter sorts were difficult of sale whilst the others gained Rs. 30-40/- per kg. Corresponding BOPF’s – brighter sorts gained sharply whilst the others gained Rs. 30-40/- per kg. Uva/Udapussellawa BOP/BOPF’s gained Rs. 30-40/- per kg. Majority of the CTC teas followed a similar trend and on average gained Rs. 10-20/- per kg. Once again, the limited availability of liquoring leafy teas were strongly competed and prices ranged from Rs. 700–1100/- per kg.

There was no interest from shippers to South Africa whilst there was wide spread interest from most other markets.

Low Growns comprised of approximately 3.1M/kgs in the Leafy/Tippy catalogues. There was fair demand .In the leafy Catalogue better BOP1/OP1’s were barely steady others were however fully firm to dearer. Better PEK/PEK1’s too were lower. Others though irregular were firm   with the bottom end teas in particular gaining Rs.5-10/- per kg and more. Better OP/OPA’s were irregularly lower. Here again teas at the lower end were fully firm to dearer. In the Tippy catalogue high priced FBOP/FF1’s were barely steady whilst the cleaner secondaries together with the lower end teas were fully firm to dearer. In the Premium catalogue a selection of neat leaf teas maintained whilst others were irregularly lower. There was good demand from shippers to Turkey, CIS, Iraq, Dubai, Kuwait and Saudi Arabia.