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COLOMBO TEA AUCTION 31/03 /2015
C O M M E N T S
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This week’s Auction offerings totalled 7.2M/Kgs. Low Growns continued to meet with fair demand and in general witnessed a steady market. In contrast, the High and Medium Grown BOP/BOPF’s once again, met with limited interest and mostly sold at irregularly easier rates. However, it would be relevant to note that the overall unsold volumes were lower to last although still significantly high.
Ex Estate offerings comprised of 1.3M/Kgs. Quality of teas on offer showed a further decline on last with the exception of teas from the Nuwara Eliya region which were barely maintained. Consequently, Best Western BOP/BOPF’s declined by Rs. 20/- per kg and more for last week’s high priced teas. In the below best category BOP’s lost by Rs. 10-20/- per kg whilst most BOPF’s declined by Rs. 20-40/- per kg, plainer BOP/BOPF’s together with the Uva/Udapussellawas declined by Rs. 10-20/- per kg. Once again Nuwara Eliya BOP’s continued to sell well although at slightly lower levels to last with prices ranging between Rs. 520 – 680/- per kg, the corresponding BOPF were Rs. 20-30/- per kg lower to last. A very disappointing sale for CTC teas and particularly the High and Medium Grown types which declined by Rs. 20/- per kg and more.
There was slightly better activity from Shippers to CIS and South Africa, whilst UK and the Continent continued to be selective. Japan and Hong Kong continued to lend useful support.
Low Growns comprised of approximately 3.2M/kgs in the Leafy/ Tippy catalogues. There was fair demand. In the Leafy catalogue better OP1/BOP1’s sold at firm to irregularly dearer rates. Others were lower following quality. PEK/PEK1’s too sold at fully firm to dearer rates at the commencement but declined marginally towards the close. Better OP/OPA’s were barely steady. There was good demand however for the teas at the lower end resulting in prices being fully firm to Rs.10/- per kg dearer. In the Tippy catalogue FBOP/FF1’s were irregular and often lower Rs.5-10/- per kg. There was however good demand for the cleaner teas at the lower end. Tippy teas too met with good demand and prices gained on last. Shippers to Turkey, Saudi, Iraq, Libya, Dubai together with CIS were active this week.
COLOMBO TEA AUCTION 08/04/2015
C O M M E N T S
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A total of 7.3 M/Kgs were on offer this week. Once again Low Growns continued to meet with reasonably good demand whilst the High & Medium Grown BOP/BOPF’s witnessed a disappointing sale and on average declined by Rs. 20-30/- per kg. In addition the unsold volumes continued to be high.
Ex Estate offerings recorded a marginal decline over last week’s quantities & totalled a 1.2 M/Kgs. Quality of teas on offer showed a further decline & consequently Best Western BOP/BOPF’s declined Rs. 20/-per kg & more following quality. BOP’s in the below best category declined Rs. 20 – 30/- per kg whilst the corresponding BOPF’s were irregular. Plainer BOP’s declined Rs. 20 -30/- per kg whilst corresponding BOPF’s declined Rs. 10 – 20/- per kg. This week too the Nuwara Eliya BOP’s continued to sell well although at Rs. 20 – 30/- per kg below last week’s levels whilst the corresponding BOPF’s on average declined Rs. 20/- per kg. Uva/Udapussellawas BOP’s declined Rs. 20/- per kg whilst the corresponding BOPF’s declined Rs. 20 – 30/- per kg. The CTC teas too witnessed a similar market sentiment.
Needless to say, the weakening tea prices, particularly for the High and Medium Grown small leaf teas would be of serious concern as these levels would be totally unremunerative to the plantations.
Low Growns totalled 3.3M/kgs in the Leafy/ Tippy catalogues. There was fair general demand. In the leafy catalogue BOP1/ OP1’s sold at firm to irregularly dearer rates whilst OP/OPA’s too were fully firm to dearer with prices at the lower end gaining Rs.10-15/- per kg. Bold PEK’s were fully firm to irregularly dearer whilst others were mostly irregular and lower. In the Tippy catalogue too, better FBOP/ FF1’s were barely steady. A selection of cleaner secondaries together with the teas at the lower end were fully firm to irregularly dearer. Tippy invoices too were selectively dearer with the leafier types being irregularly lower at times. Shippers to CIS, Turkey, Iraq, Dubai and Saudi Arabia were active this week.
COLOMBO TEA AUCTION 22/04/2015
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About F&W
Forbes & Walker was set up in 1881 as a partnership between James Forbes and Chapmen Walker. Although there is no actual record of the date on which it was established the very first cash book, still in the possession of the Finance Director, indicates the brokerages were earned from 1st August 1881. In Sir Thomas Villiers' book “Mercantile Lore” the date of establishment of Forbes & Walker has been put down Read More...