John Keells Tea Market Report:

High demand for Low Growns

The quantity of 2.6 mkg of Low Growns that were on offer this week could be considered rather low, when compared with the volumes on offer in the month of March 2010.

The demand at this weeks Low Grown auctions continued quite attractive.

In the Leafy category, the best and below best BOP1/OP1s, OP/OPAs and Pekeo/Pekoe1s were dearer, however prices fell several rupees for the poorer sorts.

In the Small Leaf category, prices for FBOP/FF1s met with a dearer market, whilst the Tippy varieties too sold at attractive levels.

Here too the flaky types declined several rupees and at times were difficult of sale.

Russia, Iran and Libya bid strongly, whilst Dubai, Jordon, Iraq, Syria, Saudi Arabia and other Middle Eastern countries also lent useful support.

After a lapse of one weeks auction due to the New Year the Ex-estate market commenced on a strong note with a quantity of 0.94 mkgs on offer.

The BOPF invoices in the Western category advanced sharply particularly for the below best and plainer teas by Rs 20/- to Rs 25/- and more whilst the best on offer too gained but to a lesser extent. BOP's on the other hand on average sold below its counterparts but gained in value by Rs 10/- to Rs 15/-.

The excellent demand for Nuwara Eliya BOP's that were witnessed in the past few auctions seemed to have reduced with the end of Seasonal buying.

The price ranges from Rs 450/- to Rs 500/- have now settled around Rs 350/- to Rs 400/- this week. BOPF's however were firm to a little easier.

Uva's were firm to irregular following quality. The other feature of todays sale was the strong demand for best Low Grown CTC PF1's that advanced sharply with a few invoices surpassing Rs 600/-. There was less interest from UK, Japan, Russia and Continental buyers whilst the Tea Bag Sector lent good support.

Western Teas

Select best BOPs declined Rs. 5/- to Rs. 10/- and more at times, other good invoices were irregularly lower, Below Best sorts advanced Rs. 5/- to Rs. 10/- and more, Plainer varieties gained Rs. 10/- on average.

Select best BOPF were firm to dearer, other good invoiced gained Rs. 10/- to Rs. 15/-, Below Best sorts advanced Rs. 15/- to Rs. 20/-, Plainer varieties appreciated Rs. 20/- to Rs. 25/- on average. Medium BOPs advanced Rs. 5/- to Rs. 10/- whilst the BOPF gained Rs. 15/- to Rs. 20/-.

Nuwara Eliya Teas

BOPs declined substantially by Rs. 50/- and more. BOPF shed Rs. 5/- on average.

Uva Teas

BOPs advanced Rs. 10/- and more, BOPF gained Rs. 10/- to Rs. 15 on average. Udapussellawa BOPs appreciated Rs. 15/- to Rs. 20/-, BOPF gained Rs. 20/- to Rs. 30/- on average.

CTC Teas

A few Low Grown PF1s advanced sharply, others gained Rs. 15/- to Rs. 20/-, but eased towards the later half of the sale, BP1s were firm to Rs. 5/- dearer, High & Medium PF1s advanced Rs. 10/- to Rs. 15/-, BP1s were firm.

Low Growns

Good demand. Select Best OP1s appreciated Rs. 5/- to Rs. 10/-, Best types advanced sharply by Rs. 10/- to Rs. 15/-, however below Best and Poor sorts particularly the stalky varieties were irregularly lower by Rs. 5/- to Rs. 10/-.

Select Best BOP1s advanced sharply by Rs. 20/- to Rs. 40/- and more at times, Best types too were dearer by Rs. 5/- to Rs. 10/-, however the Below Best types declined Rs. 5/- to Rs. 10/- and more at times, Poor types too were lower by Rs. 5/- to Rs. 10/.

Select Best OPs appreciated Rs. 5/- to Rs. 10/- and more at times, the Best types along with the Below Best varieties to gained by a similar margin, however Poor stalky types were irregularly lower by Rs. 10/- on average.

Select Best and Best OPAs gained Rs. 10/- to Rs. 15/-, Best and Below Best types too were dearer by Rs. 5/- to Rs. 10/-, however the poor types tended lower by Rs. 5/- to Rs. 10/ .

Select Best Pekoes maintained last levels, Best types were firm to Rs. 5/- to Rs. 10/- dearer at times, Below Best Pekoes particularly the bolder varieties commenced fully firm to Rs. 5/- per Kg dearer on previous sale's closing levels however, were irregularly lower towards the close.

Select Best Pekoe1s appreciated Rs. 10/- to Rs. 20/-, Best along with the below Best types too gained Rs. 5/- to Rs. 10/- and more at times, Poor sorts were irregularly dearer by Rs. 3/- to Rs. 5/-.

Select Best BOP.SPs advanced Rs. 5/- to Rs. 10/-. Best types were firm, Below Best and Poorer sorts eased Rs. 5/- to Rs. 10/- .

Select Best and Best BOPs advanced Rs. 10/- to Rs. 20/-, Below Best and Poorer types were irregularly lower by Rs. 5/- to Rs. 10/-.

Select Best and Best FBOPs were initially dearer by Rs. 10/-, but advanced by Rs. 20/- and at times more towards the later part of the sale. The Below Best and Poorer sorts were irregularly lower to last.

Select Best and Best FBOPF1s appreciated Rs. 10/- to Rs. 15/-, Below Best and Poorer sorts moved up by Rs. 5/- to Rs. 10/-.

Select Best Tippy varieties maintained last levels, Best types too gained a few rupees, however the Below Best and Poorer sorts were irregularly lower to last.

Off Grades

Select Best liquoring Fngs1s appreciated Rs. 5/- to Rs. 10/-, Below Best and Best were dearer by Rs. 10/- to Rs. 15/-, Poorer sorts appreciated by Rs. 10/-. All BPs sold at last levels. Select Best and Best BMs sold at firm levels, whilst the Below Best and Best were irregularly dearer by Rs. 10/-, Poorer sorts were lower by Rs. 10/-. All Low Grown Fngs were lower by Rs. 10/-. Select Best BOP1As were firm whilst the Best, Below Best and others were lower by Rs. 10/- to Rs. 20/-.

Dust

Select Best Dust1s were firm, others in the Best and Below Best category gained Rs. 10/- to Rs. 15/-, whilst the Poorer sorts were irregularly dearer.

Clean secondaries gained Rs. 15/- to Rs. 20/- whilst the Below Best types gained to a lesser extent, Poor sorts maintained last levels.

Best Low Grown Dust / Dust1s advanced Rs. 10/- to Rs. 15/-, whilst the balance shed Rs. 5/- to Rs. 10.