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John Keells tea report:
Good demand for Uva seasonal teas
Today’s Ex-estate sale comprising of 15,900 packages totaling 0.8
mkgs, met with less demand for Western BOP/BOPF, whilst Uva’s
appreciated substantially following quality and special inquiry.
Other than for a few selected Western High Grown BOPs which sold well
between Rs. 260 and Rs. 295, the below best and plainer varieties sold
between Rs. 225 and Rs. 250 with the bottom settling at Rs. 210.
Similarly the better BOPF sold between Rs. 260 to Rs. 290 with one or
two invoices exceeding Rs. 300. The bottom has now settled at Rs. 240. A
fair weight of Westerns remained unsold.
The feature of today’s Ex-estate sale was the widespread demand and
the aggressive bidding by buyers for a range of seasonal Uva BOP/BOPFs
that were on offer.
There were approximately 4 invoices surpassing the Rs.400/- price
range with a fair number of invoices selling above Rs.300/-. Following
this trend, FBOPs/Pekoes too sold well on Air Mail bids with a few
invoices registering prices of Rs. 500.
A weaker market prevailed for CTC’s. The tea bag sector lent fair
demand whilst Russia was somewhat selective. UK, Japan and Continental
buyers were active, mainly for the seasonal teas on offer.
The 3.1 mkg of Low Growns that were on offer this week met with good
demand, but at lower levels. In the Leafy Category, the downward trend
for the Pekoe grade continued, particularly for the bolder varieties.
Prices for the well made shotty sorts still continue quite attractive.
The OP/OPAs too showed a slight price decline due to selective demand
by the major Russian buyer. The OP1 grade continued quite strong
following widespread demand.
The BOP1 too were mainly firm. In the small leaf category, the well
made BOP/BOP. SPs advanced in value, others too met with a dearer
market. The select best FBOP/FF1s shed several rupees.
The below best too met with a lower market. The Tippy varieties
although well absorbed, prices were marginally lower to previous.
There was good demand from Iran and Russia, whilst Saudi Arabia,
Dubai, Jordon, Iraq, Turkey and other Middle Eastern markets lent useful
support. |
