Week’s tea auction gets better demand | Daily News


Week’s tea auction gets better demand

The 40th sale of the year, concluded Wednesday, had on offer 5.9 M/Kg vis-à-vis 6.4 M/Kg on offer in the previous week. There was better demand.

Ex-Estate offerings comprised 0.8 M/Kg. Quality of offerings were irregular and consequently, significant price fluctuations between consecutive invoices continued to be a common feature.

Overall, demand for BOP’s continued to be selective, with only teas in the best category achieving a satisfactory price level. BOPF, in general, met with better demand and prices moved up all-round, with select invoices appreciating following special inquiry.

Sluggish demand for CTC’s in the High and Mid Grown category, whilst the Low Grown counterparts sold at attractive levels, particularly, for the PF1 grade which ranged between Rs. 600-850 per kg.

Low Growns comprised of 2.6M/kgs in the Leafy/Tippy catalogues this week. There was good demand. In the Leafy catalogue, better BOP1/OP1s were fully firm to dearer, whilst the others too were mostly firm barring the stalky types, which were irregular and lower.

It is also noteworthy that a line of Mulatiyana Hills OP1 realised Rs.1,700 per kg, equalising the All-Time Record Price for a OP1 grade.

PEK/PEK1s met with excellent demand, and prices gained Rs.10-20per kg and substantially more at times. Here again, a line of Adams View PEK realisedRs.1,450 per kg, thus establishing a new All-Time Record Price. Better OP/OPAs were fully firm. A range of improved Below Best sorts gained Rs.10-20 per kg.

Balance sold around last levels. In the Tippy catalogue too, better FBOP/FF1s though irregular were firm, whilst cleaner secondaries were fully firm to dearer. At the lower end, prices were irregular and lower for the poorer sorts.

In the Premium catalogue too, select best together with a range of improved types were fully firm to dearer, whilst the others were irregular following quality. There was good demand from shippers to CIS, Turkey, Saudi Arabia, Iraq and Dubai this week.

Courtesy Forbes & Walker Tea Brokers


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