COLOMBO TEA AUCTION 13/01 /2015

C O M M E N T S

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Overall Auction offerings remained around last week’s levels and totalled 6.8M/Kgs. There was fair demand at easier rates.

Ex Estate offerings too comprised of a similar volume to last week and totalled 1.1M/Kgs. Overall quality of Western’s were generally lower to last week whilst theNuwara Eliyas together with Uva/Udapussellawas showed no significant change. Consequently, in addition to the less demand from Russia/ CIS following the weak Russian Rouble- the lower quality of teas on offer placed further downward pressure on prices. Best Western BOP’s declined by Rs. 20/- per kg, whilst the corresponding BOPF’s declined by Rs. 20-30/- per kg. Other Western BOP’s declined by Rs. 5-10/- per kg, whilst the corresponding BOPF’s declined by Rs. 10-20/- per kg. Plainer BOP’s declined by Rs. 5-10/- per kg, whilst the corresponding BOPF’s- clean leaf teas were barely steady whilst the poorer types declined by Rs. 10/- per kg. The limited availability of Nuwara Eliyas met with useful demand and gained by Rs. 10-20/- per kg in most instances. Uva/Udapussellawas sold around last and here again the poor leaf types were difficult of sale. High and Medium Grown CTC’s lost out in value in keeping with the Orthodox varieties and declined by an average Rs. 10/- per kg, whilst the corresponding Low Grown PF1’s eased sharply by Rs. 30-40/- per kg. Liquoring leafy teas were selectively dearer following airmail inquiry.

Once again there was selective buying from Shippers to CIS, whilst other markets too were less active.

Low Grown’s had on offer a total of 3M/kgs in the Leafy/Tippy catalogues this week. There was fair demand but at lower levels. In the Leafy catalogue OP1/BOP1’s declined in value. Well made OP/OPA’s maintained at last levels whilst others were lower. PEK/PEK1’s were firm and tended dearer. In the Tippy catalogues few well made FBOP/FF1’s maintained whilst others declined. High priced tippy teas were  generally lower. There was demand from Turkey, Syria, Iraq, Saudi Arabia and Kuwait. Shippers to CIS and Iran were selective.

COLOMBO TEA AUCTION 21/01 /2015

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This week’s Auction offerings showed an increase over the previous week’s offerings and totalled 7.4M/Kgs. There was fair demand at irregular rates.

Ex Estate offerings totalled 1.2M/Kgs, marginally higher than 1.1M/Kgs on offer at last week’s Auction. Quality of Western’s were irregular whilst teas from other growing regions showed no appreciable change. Best Western BOP’s were mostly upto Rs. 20/- per kg easier, whilst the majority corresponding BOPF’s declined by Rs. 20-30/- per kg. In the below best and plainer categories a selection of clean leaf coloury BOP’s gained by Rs. 10-20/- per kg, whilst the others were irregular. The corresponding BOPF’s- brighter sorts declined by Rs. 10-20/- per kg, others were lower to a lesser extent. Plainer BOPF’s were irregular with the poor leaf invoices declining by Rs. 10/- per kg on average. Nuwara Eliyas appreciated following quality. Uva/Udapussellawa BOP’s were mostly Rs. 10-20/- per kg lower, whilst the corresponding BOPF’s eased by Rs. 5-10/- per kg. High and Medium Grown CTC BP1’s witnessed a firm to dearer trend whilst the corresponding PF1’s lost by Rs. 5-10/- per kg on average. Low Grown types- BP1’s were firm whilst the corresponding PF1’s lost by Rs. 10-20/- per kg particularly for the poorer types. The limited availability of liquoring leafy teas, particularly from the Nuwara Eliya region, met with strong demand and appreciated quite sharply in value.

Low Grown’s totaled 3.5M/kgs in the Leafy/ Tippy catalogues this week. There was fair demand. In the Leafy catalogue , a selection of better BOP1’s sold at fully firm to dearer rates. Others and OP1’s were lower to last. Better OP/OPA’s too were fully firm whilst others were irregularly lower following quality. At the lower end however prices were fully firm to marginally dearer. PEK/PEK1’s too were mostly firm with the teas at the lower end often gaining Rs. 10-15/- per kg. In  the Tippy catalogue a range of better FBOP’s were fully firm. Others were barely steady. Better FF1’s too were firm to marginally easier whilst teas at the lower end however were fully firm to dearer. Tippy invoices met with fair demand but were mostly lower to previous week. Shippers to CIS, Turkey, Dubai, Iraq, Kuwait together with Saudi Arabia were active this week.

COLOMBO TEA AUCTION 26/01 /2015

C O M M E N T S

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A total of 7M/Kgs came under the hammer this week. There was fair demand mostly at easier rates.

Ex-Estate offerings comprised of 1M/Kgs compared to the 1.2M/Kgs offered at the last week’s auction. Overall quality of most teas on offer were lower to last. Consequently with the exception of a few select BOP invoices all other BOP/BOPF declined by Rs.10-20/- per kg. Nuwara Eliya BOP/BOPF declined by Rs.20/- per kg and upto Rs.40/- per kg respectively. Uva/Udapussellawa’s declined Rs.10-20/- per kg. High and Medium Grown BP1’s were generally firm whilst PF1’s declined upto Rs.10/- per kg mostly following quality. Low Grown BP1’s were firm whilst PF1’s gained Rs.10-20/- per kg and more for teas at the lower end. On a positive note the limited selection liquoring leafy teas met with excellent demand and sold at attractive rates. Most markets operated in a selective manner.

As is customary with the on set of dry weather conditions in most Planting districts - teas from the Western Planting districts, commencing next week's auction have shown signs of seasonal improvement. Therefore it would be reasonable to predict an improvement in prices particularly for the well made teas, as auction quantities too are likely to show a decline from now on. 

Low Growns comprised of 3.4M/kgs in the Leafy/Tippy catalogues this week. There was fair demand but at lower levels. The Leafy catalogue select best BOP1’s  were firm whilst others and OP1’s declined. Better OP/OPA’s too were lower. There was however good demand at the lower end, resulting in prices being fully firm to dearer. PEK/PEK1’s too mostly sold around last levels. Here again prices at lower end were fully firm to dearer. In the Tippy catalogue better FBOP/FF1’s declined Rs. 10-15/- per kg. Others and the teas at the lower end however sold at firm to irregularly dearer rates.  Demand for Tippy grades too were selective, resulting in prices declining to last. There was good demand from Turkey, Iraq, Dubai whilst Shippers to CIS were very selective this week.