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| Wednesday, 24 December 2003 |
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More tea to Middle East The black tea production in November was reported 28,604.960 kg as against 28,055,844 kg in 2002. This is a two percent increase, Sri Lanka Tea Board stated. The black tea production from January to November this year amounted to 279,034,138kg as against 281,126,603kg last year. The final auction for the year was a one-day sale with restricted quantity of 5 million kg. The 2.4 million kg of Low Growns on offer met with better demand. The OPAs in particular eased with less inquiry from CIS/Russia however, most Middle East markets operated fairly strongly, consequently Pekoes/BOP1s/OP1s and most Tippy varieties appreciated in value following strong buying by Iran, Dubai, Turkey & Saudi Arabia, John Keels Tea Brokers stated. As expected most Western out markets were less active with the commencement of the holiday season. The Select Best BOPs/BOPFs maintained last levels, however all other Western BOP/BOPFs declined several Rupees following less activity from UK Continent and South Africa. The Best Nuwara Eliya BOPs on offer maintained last levels, but all others declined several Rupees, the BOPFs in particular dropped sharply at times as much as Rs.50/- to Rs.100/-. CTC BP1s were slightly dearer, however most PF1s declined with the Best on offer dropping sharply. Most Off Grades continued strong whilst Dust too gained on last week's levels particularly Secondary sorts. Latest reports indicate bright and dry conditions from most planting districts, weather conducive for the manufacture of good liquoring teas, whilst the offer quantities in the ensuring sales may also show a decline. |
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