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| Monday, 19 January 2004 |
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Tea market remains strong by Steve A. Morrell Confirming market projections tea continued to sell well at last weeks' auctions. But There was no improvement in ex-Estate offerings which again were just above 0.7 million kilos. Regardless of this limitation well made premium grades enjoyed good prices. There were notable garden offerings from the Western high growns', Nuwara Eliyas', and medium elevations. Of the Westerns Somerset, bordering the Great Western mountain range, and Alton directly across, in close proximity to the Peak wilderness over looking the Maskeliya Valley, did well at 270/- and 262/- (per Kilo). Of the Nuwara Eliyas, Mahagastota and lovers Leap, both locations on the out-skirts of Nuwara Eliya Town recorded about the same level. Moving to the lower elevations just below the Ginigathena Pass, Kenilworth fetched a top price of 300/-(At Medium Elevation). Of the 6.2 million kilos on offer, and quite like the last few sales the larger quantity comprised low growns. Over the past few weeks we focussed on two Small Holder factories in the Galle district where manufacturing standards had improved and emphasis was on production of a better quality product. Hingalgoda, and Kalubowitiyana, were the factories we reported where there was all round improvement, and through corporation of Small Holders a better standard of leaf was supplied. Attention to detail paid off, and at last weeks' sale both locations recorded prices of 285/- and 265/- for Broken Orange Pekoe (BOP) which were top prices for the low grown elevation. There were 9546 lots handled by 9 brokering Companies who said that this week the feature was substantial increase in air mail inquiry. UK the Continent, and Japan were noticeable in their demand for the improved Teas available, while shippers to the CIS Countries too did not suspend their interest. Brisk bidding was noticed for low grown Flowery Broken Orange Pekoe Fannings (FBOPF) and FBOPF1s, demanded by Turkey, Syria, Iran, and Dubai. Brokers' views were that this trend would improve in the short term sounding good tidings for Plantation Companies who are now concerned with impending wage negotiations. |
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