JKH Tea Market Report:
Abundance of plain weathery teas
The weak market across the board at Wednesday's ex-estate sale could
partly be attributed to the abundance of plain weathery teas, and the
large quantity on offer.
More of the same trend is expected in the coming sales, not unusual
at this time of the year.
Tea pluckers |
With crops remaining healthy, particularly from the Western sector,
it is not difficult to predict, continuing easier prices, particularly
for the Below Best and plainer teas, until such time towards the end of
July, when auction quantities start to ebb and the first few brighter
teas start to flow from Uva, heralding the onset of the Uva season.
At today's ex-estate sale comprising of 1.37 mkgs which is 0.4 mkgs
more than the previous week, met with lower demand, although quality on
offer was somewhat better than last week.
The best Western High grown BOP/BOPF's declined Rs 20 to 25 whilst
the below best and plainer types too shed by a similar margin and more
as the sale progressed.
Nuwara Eliya teas continued its downward trend for both BOP/BOPF's
with only a few brighter invoices maintaining. Uva's were irregular
following quality.
Best Low grown CTC PF1's were firm to easier by Rs 10 to Rs 15 whilst
others too declined on average Rs 20 and more. High and Medium types
declined substantially by Rs 30 to Rs 40.
The 2.8 mkg of Low Growns that were on offer this week, met with very
good demand, however at slightly lower levels.
In the leafy category, the BOP1/OP1s met with a lower market, whilst
the shotty Pekoe1s too were easier. However the bold Pekoes and the best
and below best OPAs advanced in value.
In the Small leaf category, the best Tippys were a dearer feature but
the below best and the poorer types declined.
The FBOP/FF1s too eased several rupees.
Considering the quality on offer this week, prices are still quite
satisfactory. There was excellent demand from Russia and Iran, whilst
Dubai, Syria, Iraq, Saudi Arabia and other Middle Eastern markets also
lent useful support.
Western Teas
Select Best BOPs shed Rs 10 to Rs 15 and more, other good invoices
too were Rs 10 easier, Below Best sorts declined Rs 15 on average,
Plainer varieties eased Rs 20 and more. Select Best BOPF shed Rs 20 to
Rs 30, other good invoices were Rs 15 to Rs 20 easier, Below Best and
Plainer varieties declined Rs 15 to Rs 20 and more as the sale
progressed. Medium BOPs were firm to easier. BOPF eased Rs 10 to Rs 15
on average.
Nuwara Eliya Teas
BOPs declined Rs 15 to Rs 20 and more for the plainer varieties. BOPF
eased Rs 10 to Rs 15 on average.
Uva Teas
Coloury BOPs were Rs 10 to Rs 15 easier, others shed Rs 15 to Rs 20
on average. Coloury BOPF eased Rs 15 whilst the others were Rs 10 to Rs
20 lower. Udapussellawa BOPs declined Rs 20 to Rs 30 whilst the BOPF
shed Rs 20 to Rs 30 on average.
CTC Teas
Select Best Low Grown PF1s were Rs 10 to Rs 15 lower, others declined
Rs 30 to Rs 40 and more at times. BP1s were firm. High & Medium PF1s
shed Rs 20 to Rs 30 and more, whilst the BP1st were Rs 10 to Rs 15
easier.
Low Growns
Fair demand. Select Best OP1s eased Rs 20 to Rs 40, Best types were
firm to Rs 5 to Rs 10 lower at times, Below Best types gained Rs 10 to
Rs 15, Poor types were firm on last levels. Select Best BOP1s along with
the Best BOP1s shed Rs 10 to Rs 15, Below Best and poor types were
steady.
Select Best OP/OPAs were fully firm, Best types gained Rs 5 to Rs 10
following quality, Below Best and Poor types maintained last levels.
Select Best Pekoes appreciated Rs 10 to Rs 20, the balance were firm to
Rs 5 to Rs 10 lower at times.
Shotty Pekoe1s declined Rs 10 to Rs 20, Best types too were
irregularly lower by Rs 5 to Rs 10, Below Best and Poor sorts were
mainly firm. Select Best and Best BOPs shed Rs 5 to Rs 10, Below Best
and Poorer sorts declined by a similar margin.
Select Best and Best BOP.SPs were lower by Rs 5 to Rs 10, balance too
were lower by a similar margin.
Select Best and Best FBOPs/FBOPF1s eased Rs 5 to Rs 10 on last
levels, Below Best and Poorer sorts too shed by a similar margin. Select
Best and Best tippy varieties met with good demand and advanced well
above last.
However Below Best and Poor types were lower by Rs 5 to Rs 10.
Off Grades
Select Best liquoring FNGS1 were dearer by Rs 10 to Rs 15, Below Best
appreciated by Rs 10, Poorer sorts were irregularly dearer by Rs 10.
Select Best BMs sold at firm levels whilst the Best and the Below
Best were lower by Rs 10, Poorer sorts depreciated Rs 10.
All clean Low Grown FNGS appreciated Rs 10 whilst the others were
lower by Rs 5.
All clean BPs appreciated by Rs 10, the other categories were lower
by Rs 10.
Select Best BOP1As were easier by Rs 10 to Rs 15, whereas Best and
Below Best BOP1As were firm to irregularly lower by Rs 10, poorer sorts
were firm on last levels.
Dust
Select Best Dust1s were firm, others in the Best and Below Best
category appreciated Rs 15 to Rs 20 at the commencement of the sale but
declined Rs 5 to Rs 10 as the sale progressed.
Clean secondaries along with the Below Best types gained Rs 10 to Rs
15. Best Low Grown Dust / Dust1s were firm whilst the balance gained Rs
5 to Rs 10. |