Low growns in high demand

THE quantity of 3 Mkg of Low Growns that were on offer this week met with wide spread demand, however, at slightly lower levels. In the Leafy Category, the select best BOP1 eased Rs. 5 to Rs. 10 however, others too met with a lower market, but to a lesser extent.

A few Select Best OP1s maintained last levels, but all others together with the Below Best varieties, declined Rs. 3 to Rs. 5. The Best Pekoes on offer were mainly firm but all others shed Rs. 3 to Rs. 5 and more for the poorer varieties.

In the Small Leaf category, FBOP/FF1s declined Rs. 5 to Rs. 10, however the poorer sorts were mainly firm. The best Tippy Sorts were irregularly lower, others met with a firm market.

There was less demand from Russia and Iran. Other Middle Eastern Markets too were less active, probably in lieu of the Ramasan Festival which is due in the latter half of the week.

Off Grades met with a lower demand with most varieties declining in value. Select Best Dusts eased Rs. 3 to Rs. 5, others declined more at times.

A strong market prevailed at Tuesday's Ex-estate sale which consisted of a quantity of 0.7 Mkg. This week too the market commenced on a slightly hesitant note but gained momentum as the sale progressed and ended with most categories advancing in value, especially the bottom end of the market with BOP/BOPFs settling around Rs.170 and Rs.185 respectively.

Quantities on offer in the next two weeks continues low, whilst the offerings for the catalogue closing this week will also be limited due to work stoppage on estates on account of Deepavali festival.

(John Keells Tea Market report)