Tea market comment - July 8-9

6.7 Mnkg of teas were on offer this week, out of which 2.9 Mnkg were Low Growns. In the Large Leaf catalogues best OP1s attracted better levels of price with BOP1s too following a similar trend.

Other OP1s, BOP1s too sold at dearer rates. Select Best Small Shotty Pekoe1s gained Rs. 5 to Rs. 10, bold Pekoes however were irregular and often lower.

A range of teas in the best category were firm. Select Best OP/OPAs were sold well and a range of teas in the best category gained Rs. 5 to Rs. 10. Others were about firm. In the Small Leaf catalogues Select Best FBOP/FBOPF1s were firm. Best and below best appreciated Rs. 10 to Rs. 15 and at times more. Teas at the bottom were marginally lower in value.

The extra demand for stylish smaller Pekoe’s saw New Batuwangala Pekoe1 achieved a record price of Rs. 650 per kg. The Pekoe grade too had a record equalling performance for New Vithanakande realized a price of Rs. 640 with two other factories matching this performance.

In the Mid Grown category an Invoice of FBOP from Cooroondoowatte Tea Factory did exceptionally well to sell at Rs. 500 per kg.

There was more general demand in the Ex-Estate catalogues this week. BOPFs in particular turned around after a two week slide. Better western BOPFs moved up Rs. 10 to Rs. 15. Others gained Rs. 5 to Rs. 10. Corresponding BOPs were fully firm to Rs. 5 dearer.

Nuwara Eliya BOPs declined Rs. 5 to Rs. 10. Best BOPs were dearer Rs. 10 to Rs. 20, others gained Rs. 10. Better Uva BOPs gained Rs. 10 and more. BOPFs moved up Rs. 10 to Rs. 20. Other BOPs were fully firm with BOPFs moving up Rs. 10 on average. High priced PF1s lost Rs. 30 to Rs. 40, but improved liquoring sorts gained Rs. 10. BP1s declined Rs. 5 to Rs. 10.

Courtesy: Asia Siyaka Commodities (Pvt) Ltd.