COLOMBO TEA AUCTION 11/03 /2015

C O M M E N T S

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This week’s auction quantity was similar to last and totalled 7.3M/Kgs. The market sentiment was better with the feature being the  improved demand for teas at the lower end. 

Ex Estate offerings showed a marginal increase over last and totalled 1.2M/Kgs. There was fair demand at irregular rates following quality. In the Best Western category select invoices were dearer following airmail inquiry, whilst others were irregular and tended easier. In the below best category too a selection of brighter BOP/BOPF’s gained Rs. 10-20/- per kg following special inquiry, whilst others were irregular and easier. Plainer BOP’s were firm whilst in the corresponding BOPF category clean leaf types gained Rs. 10-15/- per kg whilst others sold around last week’s levels. Nuwara Eliya BOP continued to meet with excellent demand with prices realized being in excess of Rs. 600/- per kg, whilst the corresponding BOPF once again, were difficult of sale. Uva/Udapussellawa clean leaf BOP declined by Rs. 10-20/- per kg whilst others were mostly firm, the corresponding BOPF were firm and upto Rs. 10/- per kg lower for the poorer types. High and Medium Grown CTC teas continued to witness a disappointing market with the poorer types in particular being difficult of sale. Liquoring leafy teas continued to meet with good demand although prices tend to ease off compared to the previous week’s levels.

There was better demand from Shippers to CIS whilst Shippers to South Africa, Japan, UK and the Continent bid selectively.

Low Growns comprised of approximately 3.4M/kgs in the Leafy/ Tippy catalogues. There was fair demand. In the Leafy catalogue better OP1’s together with BOP1’s sold at firm to irregularly dearer rates. Others too were mostly firm with the exception of the lower end OP1’s that declined Rs.10-15/- per kg. Select best OP/OPA’s too were easier. Others were fully firm with the teas at the lower end gaining Rs.5-10/- per kg at times. Better PEK/PEK1’s were firm, others however declined Rs.5-15/- per kg particularly for the bolder types. In the Tippy catalogue too, better FBOP/FF1’s together with the cleaner secondaries were firm to irregularly dearer. Others were lower following quality. Well made Tippy grades too gained substantially. Shippers to Turkey, Dubai, Saudi, Libya and Iraq together with CIS were active this week.

COLOMBO TEA AUCTION 18/03 /2015

C O M M E N T S

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Auction offerings totalled 7.2M/Kgs of which 1.3M/Kgs comprised of Ex Estate teas. There was fair demand.

 This week’s Ex Estate offerings comprised of a better selection of improved teas from the western planting districts. Consequently, select invoices from amongst the Best Western’s appreciated following quality and airmail inquiry. In the below best category too a range of brighter BOP/BOPF’s were dearer whilst others declined by Rs. 10-20/- per kg; plainer BOP’s declined by a similar margin whilst the corresponding BOPF’s were irregular. Nuwara Eliya BOP’s continued to sell well although prices were irregular following quality, most teas on offer realized prices ranging between Rs. 550-800/- per kg; the corresponding BOPF’s – select invoices sold at dearer rates following special inquiry whilst others were difficult of sale. Uva/Udapussellawas on average lost Rs. 10/- per kg, whilst the corresponding BOPF’s declined upto Rs. 20/- per kg. CTC teas continued to meet with selective demand.  BP1’s on average declined by Rs. 10-20/- per kg, whilst PF1’s on average lost by Rs. 10/- per kg. The concerning factor would be the many invoices that remain unsold due to lack of suitable bids. Once again liquoring leafy teas continued to meet with excellent demand with prices ranging from Rs. 480 – 1000/- per kg.

 There was less demand from Shippers to CIS and South Africa, whilst Shippers from UK, the Continent, Japan and Hong Kong bid selectively.

Low Growns comprised of approximately 3.2M/Kgs in the Leafy/Tippy catalogues. There was fair demand. In the Leafy catalogue, better OP1’s together with a select range of below best BOP1’s were fully firm. Others were barely steady following quality. OP/OPA’s too were fully firm to selectively dearer with the lower end of the market attracting widespread demand. PEK/PEK1’s were mostly irregular and easier to last. In the Tippy catalogue too better FBOP/FBOPF1’s together with a range of cleaner secondaries were fully firm to dearer. Others were barely steady. There was however good demand at the lower end with prices being fully firm to dearer. Tippy invoices continued to attract good demand and were mostly dearer to previous with a few selected lines gaining substantially at times.

 Shippers to Turkey, Saudi Arabia, Iraq, Dubai together with the CIS were active this week.

COLOMBO TEA AUCTION 24/03 /2015

C O M M E N T S

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A total of 6.9M/Kgs came under the hammer this week of which Ex Estate offerings comprised of 1.2M/Kgs. Low Growns met with fair demand and in general witnessed a firm to dearer trend, whilst the High and Medium Grown BOP/BOPF’s declined by Rs. 20/- per kg and more. The more concerning factor would be the significant volume of teas that remain unsold. Perhaps, these levels may attract some renewed interest during the forthcoming sale.

 Ex Estate offerings showed a general decline in quality. Consequently, with the exception of a few select BOP/BOPF’s that sold around last week’s levels following special inquiry, all other BOP/BOPF’s in the best and below best category declined by Rs. 20-30/- per kg and Rs. 30-40/- per kg respectively. Plainer BOP/BOPF were Rs. 10-20/- per kg lower. Nuwara Eliya- BOP’s continued to sell well with prices ranging from Rs. 510-660/- per kg, whilst the corresponding BOPF’s were irregular. Uva/Udapussellawa BOP/BOPF’s declined by Rs. 20-30/- per kg. High and Medium Grown CTC teas continued to meet with selective demand; BP1/PF1’s declined by Rs. 10-20/- per kg in most instances. However, the corresponding Low Grown types were firm and lower to a lesser extent.

 There was much less demand from Shippers to CIS, South Africa, UK and the Continent, whilst there was reasonable interest from Japan at much lower levels to last.

Low Growns comprised of approximately 3.1M/kgs in the Leafy/ Tippy catalogues. There was fair demand. In the Leafy catalogue better BOP1/OP1’s sold at fully firm to irregularly dearer rates. PEK/PEK1’s too were mostly firm with the bolder types gaining Rs.5-10/- per kg at times. Better OP/OPA’s were barely steady.  Others were mostly firm on last. In the Tippy catalogue better FBOP/FF1’s were firm to selectively dearer, whilst the cleaner secondaries too were fully firm. Well made Tippy invoices continued to attract good demand and were dearer to previous. Shippers to Turkey, Saudi, Kuwait, Iraq, Dubai together with CIS were active this week.