Good Teas continue to see fair demand
Auction offerings were maintained around last week's levels and totalled 6.8 M/Kgs. There was fair demand for the better teas, whilst the Plainer/ Poorer types were irregular with the latter often declining in value.
Ex-Estate offerings were maintained around 0.9 M/ Kgs. There was less demand with only a few select High Grown BOPS’s appreciating in value on account of special inquiry.
Best Western BOP's - Select invoices were up to Rs. 20 per kg dearer following special inquiry, whilst the others were irregularly easier by a similar margin. Corresponding BOPF's - Select high priced teas of last week declined up to Rs. 50 per kg, whilst a majority of the others declined by Rs. 20-30 per kg. In the Below Best category, BOP/ BOPF's were irregular with a more selective approach by most buyers. Plainer BOP's were firm to marginally easier, whilst the corresponding BOPF's were firm with select clean leaf invoices marginally dearer. Nuwara Eliya’s - majority of the teas were irregular and easier following quality.
Uda Pussellawa’s were barely maintained. Uvas' - Few select clean leaf and brighter BOP/ BOPF's were dearer following special inquiry, whilst the others continued to sell around last. High and Mid Grown CTC's continued to experience a disappointing performance on price, with a majority of the teas selling at the lower end of the market, perhaps partially due to a qualitative factor.
Corresponding Low Grown types and particularly the PF1's continued to meet a firm to marginally dearer trend and in contrast to their counterparts in the High and Mid Grown regions, securing a significant premium. Low Growns comprised of 3.0 M/Kgs in the Leafy/Semi Leafy and Tippy catalogues.
The limited availability of wellmade teas were firm on last, whilst the balance declined perhaps due to a greater weight of the offerings comprising of teas in the Below Best and Plainer categories. In addition, logistical issues relating to shipping and other cost-related challenges perhaps would have weighted on the overall demand factor.
Consequently, unsold volumes too have increased this week, which would compound the congestion already being experienced in warehouses. In the Leafy catalogues, BOP1's in general were fully firm.
Select Best OP1's in general were easier, whilst a range of improved Below Best varieties gained following quality. Better OP/OPA's were barely steady, whilst a selection of improved Below Best varieties maintained. Better PEK/PEK1's in general maintained, whilst mixed varieties in particular declined. In the Tippy catalogues, high priced FBOP's were firm to marginally easier, whilst Best and cleaner Below Best sold around last levels.
Balance were irregular. Select Best FF1's were firm, whilst the balance in general were easier. In the Premium catalogues, very Tippy teas were irregular, whilst Best were firm. Balance declined.