Tea Market - comment

SALE: Sale No. 37 with a total of 5.6 m/kgs was concluded this week.

Ex Estate offerings totalled 0.73 m/kgs which was marginally lower to the preceding sale. Western offerings showed no appreciable change yet there was a useful selection of teas on offer.

Consequently, the better made teas together with the Below Best coloury BOP/BOPFs met with improved demand resulting in prices advancing Rs. 10-15 per kg and more particularly towards the close.

At the lower end too clean leaf plainer sorts met with improved demand with prices advancing upto Rs. 10 per kg. There was keen interest shown by the shippers to CIS particularly for the tea bag varieties. Offerings from the Nuwara Eliyas were irregular and lower.

Consequently, prices for BOPs together with BOPFs declined. Uva/Udapussellawa too were irregular and lower.

Hence, with the exception of a few teas that maintained, most others were lower to last. Prices too were irregular barring the select best brighter teas which attracted special airmail inquiry, others met with less demand and were lower to previous.

However, the clean leaf teas were well supported by shippers and prices were firm to marginally dearer.

Courtesy: Forbes & Walker Tea Brokers (Pvt) Ltd - Sale of September 19, 2007