Global black tea production increases
John Keells Tea Market report:
Although crop levels in most planting districts particularly from the
Western Sector reported a drop this week, the factories are still
operating at almost full capacity. It is reported that rains too have
subsided giving way to bright and hot weather which is rather unusual
for the time of the year.
Production in most black tea producing countries continue to record
peak levels with Kenya in particular recording a positive gain of 63.4
mkgs to end April compared to the corresponding period of last year. Sri
Lankan crop increase, for the above period amounts to approximately 23
mkgs. Global Black Tea production to end April is over 100 mkgs.
Black Tea |
There was slightly better demand for the 1.48 mkgs of Ex-Estate teas
on offer at today's sale. The market commenced firm to Rs 5 to Rs 10
dearer for both BOP/BOPF which strengthened as the sale progressed being
Rs 20 to Rs 25 dearer towards the conclusion of the sale.
The gap between the best on offer, widened against the below best and
plainer varieties mostly on account of the dry leaf appearance.
Low Grown CTC PF1s which was firm to a little easier at the start,
appreciated towards the end. The High and Medium types were Rs 10 to Rs
15 dearer on average.
An irregularly lower market could be expected to prevail at next
week's Ex-Estate sale comprising of 1.5 Mkgs as quality is much lower
compared to what we have seen in recent auctions.
The 3.8 Mkgs of Low Growns that came under the hammer this week met
with improved demand when compared with the previous week.
The wiry OP1s advanced in value, whilst the well made FBOP/FF1s and
the Tippy varieties too met with more inquiry and realized improved
prices.
Taking into account the quality that was on offer this week, prices
realized could be considered quite satisfactory. For the first time this
year the weekly Low Grown sale average for the sale of May 24, 2010
dropped below that of the corresponding sale in 2009.
The main Saudi Arabian buyer was rather subdued however, Russia,
Iraq, Syria, Iran and Dubai lent useful support.
Western Teas
Select Best BOPs were firm to Rs 10 dearer, other good invoices were
firm to dearer, Below best sorts gained Rs 10 and more as the sale
progressed. Plainer varieties advanced Rs 5 to Rs 10 on average. Select
Best BOPFs gained Rs 5 to Rs 10 and more at times, other good invoices
advanced Rs 10 to Rs 15 and more as the sale progressed, Below Best
sorts were firm on last weeks closing levels and gained Rs 10 as the
sale progressed. Plainer varieties advanced Rs 5 to Rs 10 on average.
Select Best Medium BOPs declined Rs 15 to Rs 20, others were irregularly
dearer. BOPFs gained Rs 10 to Rs 15 on average.
Nuwara Eliya Teas
BOPs were firm to Rs 10 dearer. BOPFs advanced Rs 10 to Rs 15 on
average.
Uva Teas
BOPs were firm to Rs 10 dearer. BOPFs appreciated Rs 10 to Rs 15 on
average. Udapussellawa BOPs advanced Rs 15 to Rs 20, whilst BOPFs gained
Rs 10 to Rs 15 on average.
CTC Teas
Select Best Low Grown PF1s were easier at the commencement and
advanced as the sale progressed, others appreciated Rs 5 to Rs 10 and
more. BP1s were firm to dearer. High and Medium PF1s gained Rs 15 to Rs
20, whilst BP1s were Rs 5 to Rs 10 dearer.
Low Growns
Lower demand. Select Best OP1s were firm to dearer by Rs 5 to Rs 10,
the Best types were irregularly dearer by Rs 10 to Rs 15, however, the
Below Best and poor types were lower by Rs 10 to Rs 15 following
quality.
Select Best BOP1s shed Rs 10 to Rs 20, balance too were lower by a
similar margin. Select Best along with the Best OPs were firm to Rs 3 to
Rs 5 lower at times, the Below Best and poor sorts declined Rs 5 to Rs
10. Select Best OPAs were steady, however Best types declined Rs 10 to
Rs 15, Below Best and poor sorts too were lower by Rs 5 to Rs 10 and
more at times. Select Best Pekoes appreciated Rs 10 to Rs 15, however,
the balance declined Rs 10 on average. Shotty Pekoe1s gained Rs 10 to Rs
20, however Best and Below Best types eased Rs 10 to Rs 15, poor types
too tended lower by a similar margin.
A few Select Best BOPs maintained last levels, however the Best and
Below Best types declined Rs 10, whilst the poorer types were lower by
Rs 10 to Rs 20 and at times remained difficult of sale.
A few Select Best BOP.SP were firm but the balance and the Best types
eased Rs 5 to Rs 10, Below Best and poorer types too shed by a similar
margin. A few Select Best FBOPs met with good demand and advanced Rs 10
per kg and at times more, however the balance as well as the Best types
shed Rs 10 to Rs 15, Below Best types also lower by Rs 10 to Rs 20 and
at times remained unsold, poorer types too were lower by Rs 20.
Select Best FBOPF1s were firm to dearer at times, however Best and
Below Best types were lower by Rs 10 to Rs 15, poorer types too shed by
a similar margin and at times remained difficult of sale. Select Best
Tippy varieties met with good demand and at times advanced above last
levels, Best types were firm, however Below Best and poorer types shed
Rs 20 to Rs 30 and at times remained unsold.
Off Grades
Select Best liquoring Fngs1s appreciated Rs 10 to Rs 15, Below Best
and Best advanced by Rs 5 to Rs 10 and more at times, poorer sorts
appreciated Rs 5 to Rs 10. Select Best BMs were easier to last by Rs 10,
whereas Best, Below Best and poorer sorts were lower by Rs 20.
All clean Low Grown Fngs were firm to dearer by Rs 5 to Rs 10, others
depreciated Rs 10. All BPs met with good demand. Select Best and Best
BOP1As were lower to last by Rs 10 to Rs 15, whilst the Below Best and
others were easier by an average of Rs 15 and more at times.
Dust
Good demand. Select Best Dust1s gained Rs 10 to Rs 15, whilst others
in the Best and Below Best category advanced sharply by Rs 40 to Rs 45.
Clean secondaries gained Rs 20 to Rs 25, whilst the Below Best types
gained Rs 10 to Rs 15, poorer sorts were firm. Best Low Grown
Dust/dust1s appreciated Rs 15 to Rs 20, Below Best types were dearer by
Rs 10 to Rs 15, whilst the poorer sorts declined Rs 5 to Rs 10. |