COLOMBO TEA AUCTION 11/02 /2015

C O M M E N T S

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This week a total of 7M/Kgs came under the hammer. High and Medium Grown small leaf teas (BOP/BOPF) met with improved demand particularly for the brighter teas and consequently these teas appreciated by Rs. 20/- per kg and more following quality. Low Growns continued to meet with limited demand and most teas on offer sold at easier rates.

 Ex Estate offerings totalled 1M/Kgs. Overall quality of offerings from the Western and Nuwara Eliya Planting Districts showed a fair improvement with some seasonal teas on offer. Consequently, Best Western BOP/BOPF appreciated by upto Rs. 30/- per kg and Rs. 20/- per kg respectively. Other Western BOP/BOPF’s gained by Rs. 10-20/- per kg. Nuwara Eliya witnessed a significant improvement in prices for select improved invoices with the corresponding leafy teas realizing some attractive prices following airmail inquiry. The positive sentiment filtered into the Uva/Udapussellawa teas as well and often appreciated by Rs. 10-20/- per kg for clean leaf teas, whilst the poor leaf teas barely realized the previous week’s price levels. High and Medium Grown CTC BP1’s appreciated by Rs. 10/- per kg and more, whilst the corresponding PF1’s were irregular following quality.

There was renewed interest from Shippers to CIS together China and Hong Kong, whilst other traditional markets were also more active.

Indeed an encouraging sale for most High and Medium Grown small leaf teas which is reflective of the traditional buying interest of “seasonal quality teas”. Consequent to the change in weather conditions in the Western Planting Districts current quality levels are likely to change, hence, it may be prudent for buyers to step up on the requirement of “seasonal quality teas” during the forthcoming sales.

Low Growns totaled 3.7M/kgs in the Leafy/Tippy catalogues this week. There was fair demand but at lower levels. In the Leafy catalogue Op1/BOP1’s were generally easier to previous. OP/OPA’s too followed a similar trend. At the lower end however, there was good demand and prices were firm. PEK/PEK1’s were firm to marginally lower. Here again teas at the lower end were generally firm. In the Tippy catalogue FBOP/FF1’s were g easier Rs. 10-20/- per kg. At the lower end however cleaner types, though irregular were firm. A selection of improved FFS/FFEXSP’s were irregularly dearer, whilst others were mostly lower to last. Shippers to Turkey, Kuwait, Dubai and Iraq were active whilst Shippers to CIS were very selective.

COLOMBO TEA AUCTION 18/02 /2015

C O M M E N T S

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A total of 7.5M/Kgs came under the hammer this week. There was fair demand mostly at lower levels.

Ex estate offerings totalled 1.1M/Kgs against 1M/Kgs on offer at last week’s auction. Overall quality of teas from the Western Planting Districts were improved and it was disappointing to observe the limited interest for these teas which consequently failed to realize prices in keeping with quality. In the below best category brighter sorts followed a similar trend and often failed to realize last week’s levels notwithstanding the improved quality. However, at the lower end of the market prices were generally maintained. Nuwara Eliyas continued to meet with good demand and realized prices in excess of Rs. 500/-. Uva/ Udapussellawa BOP were lower on last whilst the corresponding BOPF were irregular following quality; here again the poor leaf teas were difficult of sale. High and Medium Grown CTC teas - BP1’s continued to meet with fairly useful demand and often appreciated by Rs. 5-10/- per kg, whilst the corresponding PF1’s were irregular and barely steady with poor leaf teas often difficult of sale. Low Grown CTC’s followed a similar trend with BP1’s selling around last levels and PF1’s declining by Rs. 5-10/- per kg; here again at the lower end teas were difficult of sale. The feature of the sale was the attractive prices realized for liquoring leafy teas which sold at prices ranging from Rs. 550/- to Rs. 1500/- per kg.

The buying interest from Shippers to CIS continued to be subdued whilst Shippers to UK, South Africa and Hong Kong lent fair support.

Low Grown’s totalling 3.8M/kgs in the Leafy/Tippy catalogues came up for sale this week. There was fair demand but at lower levels. In the Leafy catalogue a few select best OP1’s were firm whilst others and the BOP1’s declined. OP/OPA’s too were easier to last with the high priced teas in particular declining Rs. 10-20/- per kg. At the lower end however there was good demand and prices were mostly firm to dearer. PEK/PEK1’s too were easier to last with the exception of bold PEK’s that held firm. In the Tippy catalogue select best FBOP’s together with a range of better FF1’s were firm to irregularly dearer whilst others were lower to last. At the lower end of the market there was good demand resulting in prices being fully firm to irregularly dearer.  Tippy invoices too were irregularly lower. Here again a limited selection of well made teas maintained last levels. Shippers to Turkey, Dubai, Iraq, Kuwait, Saudi Arabia were active whilst CIS though active were very selective.

COLOMBO TEA AUCTION 25/02 /2015

C O M M E N T S

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At this week's Auction a total of 6.5M/Kgs were on offer of which 1.1M/Kgs comprised of Ex Estate teas. There was fair demand at irregular rates.

In the Ex Estate catalogues the quality of teas on offer from the western planting districts were mostly lower to last, whilst teas from the Nuwara Eliya and Uva/Udapussellawas districts showed no significant change. Consequently the Best Western BOP’s, with the exception of a few select invoices which were dearer following airmail inquiry, all others declined by Rs. 20/- per kg; the corresponding BOPF where quality was maintained sold around last week’s levels, whilst others declined by Rs. 10-20/- per kg. In the below best category, BOP/BOPF’s declined by Rs. 10-20/- per kg, whilst at the lower end plainer teas declined by Rs. 10/- per kg. Nuwara Eliya’s continued to meet with good demand particularly for the BOP’s which gained substantially with most invoices on offer selling above Rs. 600/- per kg. However, the corresponding BOPF often declined by Rs. 30/- per kg and more on last week’s price levels. The liquoring leafy teas (PEK1/FBOP) continued to meet with excellent demand and sold at prices ranging between Rs. 550 – 1400/- per kg. A disappointing market for CTC teas considering the price structure and appreciation in prices at the Mombasa Auction as most teas on offer declined by Rs. 10-20/- per kg.

 Most markets were active although in a lukewarm manner.

Low Growns totalled 3.2M/kgs in the Leafy/Tippy catalogues this week. There was fair general demand. In the Leafy catalogue select best OP1’s were firm whilst others and BOP1’s declined. Better OP/OPA’s too were irregularly lower. Others and the lower end were fully firm to dearer. PEK/PEK1’s too were mostly firm to selectively dearer.

In the Tippy catalogue too, a few select best FBOP/FF1’s together with improved below best sorts were firm to irregularly dearer. Others were barely steady. At the lower end too prices were fully firm, better Tippy invoices were fully firm to dearer. Others were irregular.

Shippers to Turkey, Iraq, Libya, Saudi, Dubai together with CIS and Iran were active this week.