Weekly Tea Auction: Nearly 6.5 MKgs comes under the hammer
Auction offerings were similar to last and totalled 6.5 MKgs. Low Grown Large Leaf teas witnessed less demand, whilst the Small Leaf teas together with the High and Medium BOP/BOPF's witnessed good demand.
Ex-Estate offerings comprised approximately 1.0 MKgs. Quality of teas from the Western slopes showed a decline over the previous week with less seasonal teas on offer, although of a useful make. The limited availability of Nuwara Eliya BOP/BOPF's continued to sell at attractive prices, which is indeed encouraging. Teas from the Eastern Sector - BOP's encountered a weak trend, whilst the BOPF's appreciated by a similar margin and more.
High and Mid Grown CTC teas witnessed some recovery from the previous week, although prices compare poorly against their orthodox counterparts. Corresponding Low Grown types continued to sell well in comparison.
A concerning factor would be the limited demand for liquoring seasonal teas from the Western slopes and particularly the Nuwara Eliya District, which were neglected and often remained unsold.
Low Growns comprised of 2.8 MKgs in the Leafy/Semi Leafy and Tippy catalogues. There was fair demand at lower levels.
BOP1's in general were lower, whilst well-made OP1's sold around last levels. Balance declined. Well-made OP/OPA's together with PEK/PEK1's were firm, whilst the balance declined substantially.
In the Tippy catalogues, well-made FBOP's were firm to marginally easier, whilst the balance together with bolder varieties declined. However, teas at the bottom were firm on last. Few Select Best FF1's were firm, whilst the balance together with the Best were easier. However, cleaner Below Best and cleaner teas at the bottom were fully firm, whilst the balance were lower following quality.
In the Premium catalogues, very Tippy teas continued to attract good demand. Best and cleaner Below Best were firm, whilst the others were easier following quality.