TEA REPORT

John Keells Tea Report:

Excellent demand for semi-leafy types

There was fair demand for the slightly larger weight of 1.26 mkgs of Ex estate teas on offer. The Western High Grown BOPs were firm to Rs 5 to Rs 10 easier at the commencement.

The better invoices however declined towards the latter part of the sale, whilst the plainer types continued to be firm to a few rupees easier throughout the sale.

The best BOPFs on the other hand were firm to Rs 10 to Rs 15 lower, whilst the below best and plainer types were firm to Rs 5 easier on average. Nuwara Eliya BOPs declined Rs 15 to Rs 20 whilst BOPFs appreciated Rs 5 to Rs 10. The semi leafy types met with excellent demand with prices ranging between Rs 500 to Rs 650.

Uva BOPs were firm to irregularly dearer whilst BOPFs were irregularly lower. The semi leafy invoices were firm to a little dearer selling in the range of Rs 410 to Rs 460.

Low Grown CTC PF1s were firm to a little dearer for some invoices whilst High and Medium types were firm to a little irregular towards the latter part of the sale. The 3.3 mkgs of Low Growns that came under the hammer this week, met with excellent demand. In the Leafy category, select best BOP1s once again appreciated in value with invoices of Sithaka and Nawalakanda BOP1 obtaining All Time Record Prices of Rs 740 per kg. OP1s too continued to meet with wide spread demand whilst the OP/OPAs advanced in value, particularly for the below best varieties. However, Pekoe and Pekoe1s met with a slightly lower market. In the Small leaf category, FBOP and FF1s and Tippy varieties appreciated in value.

The secondary varieties which were previously neglected too met with improved demand with prices advancing.

There was excellent demand from Russia, Iran, Iraq, Libya and Syria, whilst Dubai, Saudi Arabia and other Middle Eastern countries also lent useful support.

Western Teas

Select Best BOPs were firm, other good invoices eased Rs 5 to Rs 10, Below Best sorts declined Rs 10 to Rs 15 and more at times, plainer varieties shed Rs 5 to Rs 10 on average. Select Best BOPFs were firm, other good invoices advanced Rs 5 to Rs 10, Below Best sorts gained Rs 10 but declined towards the latter part of the sale, plainer varieties were firm to easier.

Medium BOPs advanced Rs 10, whilst BOPFs declined by a similar margin.

Nuwara Eliya Teas

BOPs declined Rs 15 to Rs 20. BOPFs were firm to Rs 5 dearer.

Uva Teas A few coloury BOPs were firm, others declined Rs 10 to Rs 15. Coloury BOPFs were firm, others shed Rs 5 to Rs 10. Udapussellawa BOPs declined Rs 5 to Rs 10 BOPFs advanced Rs 5.

CTC Teas

Select Best Low Grown PF1s gained Rs 10, others were firm to irregular. High and Medium PF1s gained Rs 5 but declined towards the latter part of the sale. All BP1s declined Rs 10 to Rs 15 on average.

Low Growns

Good demand. Select Best OP1s maintained last levels, however Best along with the Below Best types were firm to Rs 5 to Rs 10 lower at times, poor types gained Rs 10 on average. Select Best BOP1s appreciated Rs 10 to Rs 20, Best types were firm to lower by Rs 5 to Rs 10, Below Best and poor sorts were irregularly lower by a similar margin. Select Best OPs eased Rs 5 to Rs 10, Best types were firm to dearer by Rs 5 to Rs 10, clean Below Best types too were irregularly dearer by a similar margin, balance along with the poor types tended lower by Rs 5 to Rs 10. Select Best OPAs shed Rs 20 to Rs 40, Best types were steady, Below Best and poor types were firm to Rs 5 to Rs 10 dearer at times.

Select Best Pekoes were fully firm, the balance were firm during the early part of the sale, however shed Rs 3 to Rs 5 as the sale progressed, flaky types were irregularly dearer by Rs 5 to Rs 10. Shotty Pekoe1s eased Rs 20 to Rs 30, Best types were irregularly lower by Rs 5 to Rs 10, Below Best and poor sorts were firm on last levels.

Select Best and Best BOP/BOPSP advanced Rs 10 per kg, Below Best types were firm, poorer types too were steady. Select Best and Best FBOPs moved up Rs 10, Below Best types gained Rs 10 to Rs 20, poorer types moved up Rs 5 to Rs 10. Select Best and Best FBOPF1s gained Rs 10, Below Best types were dearer by Rs 10 to Rs 20, poorer sorts were firm. Select Best Tippy varieties met with good demand and advanced on last levels, Best types too gained above last, Below Best and poorer types advanced Rs 10 to Rs 20.

Off Grades

Select Best liquoring Fngs1s were dearer by Rs 10 to Rs 15, whilst the Best and the Below Best types appreciated Rs 20 and more at times, poorer sorts were dearer by Rs 10. Select Best BMs were irregularly dearer by Rs 5, Best and the Below Best types were dearer by Rs 10, poorer sorts appreciated Rs 15. All BPs were dearer by Rs 5 to Rs 10, All Low Fngs appreciated Rs 5 to Rs 10.

Select Best BOP1As were firm to dearer by Rs 5 to Rs 10, whilst the Best and the Below Best types too appreciated Rs 10 and more at times, poorer sorts were dearer by Rs 10.

Dust

Select Best Dust1s were firm, whilst the Best and Below Best types appreciated Rs 5 to Rs 10, poorer sorts declined Rs 3 to Rs 5. Clean secondaries advanced sharply by Rs 20 to Rs 30, whilst the balance appreciated Rs 10 to Rs 15. Best Low Grown Dust/Dust1s shed Rs 5 to Rs 10, whilst the Below Best types were irregularly dearer, poorer sorts were maintained last levels.

Eswaran first tea company to be certified CarbonNeutral

Eswaran Brothers Exports, one of Sri Lanka's leading tea exporters, has achieved CarbonNeutral company certification, a major milestone in the sixty-seven year history of the family owned tea company.

"Not only is Eswaran Brothers Exports the first company in Sri Lanka to achieve this prestigious and much sought after certification, but we are the first in the world to do so, proving that Sri Lanka is out there, making its mark and doing its bit for the environment", Eswaran Brothers Vice Chairman and a third generation tea taster, Subramaniam Eassuwaren said.

"As part of a family that has been devoted to tea, this is an important landmark for us. It's among the initial steps we have taken in our drive to become a truly ethical and sustainable business while still maintaining profitability. It is also an extension of our heritage and values that have guided all our activities at Eswaran Brothers since my grandfather first started his own business in 1943. If the environmental problems that we face had been apparent during my grandfather's time, I am sure he would have called himself an environmentalist, as all of us were always taught to look at our impact on our community."

The company is also ISO 14001 certified for its environmental management. Eassuwaren said, one of their prime objectives was to see how they could reduce the environmental impact of their operations at every point. "We have a lot to learn and a long way to go, but we have definitely taken the important first steps to reducing our carbon emissions to net zero."

Outlining the process involved in order to obtain this certification, Eassuwaren said that the first steps necessitated calculating the carbon emissions produced in the existing processes within their operations. "We obtained the services of the Sri Lankan based Carbon Consulting Company as well as UK based Ecometrica who were able to measure the emissions produced".

These included, calculating the carbon emissions produced in the Eswaran Brothers' premises as well as from business travel, company owned vehicles and third party deliveries.