Tea
John Keells Tea Market Report:
Weather to have adverse impact
Widespread and heavy rainfall interspersed with cold nights has been
recorded from most plantations since Saturday. In fact many parts of the
country has been inundated and the resulting floods have caused
considerable damage to life and property. Most areas in the country
recorded unusual cold temperatures in the past few days which according
to the Meteorology Department is a result of the cold wave in India.
Plantations at all elevations too have had its fair share of damage
with earthslips and work stoppages. Workers on some of the plantations
did not report to work while in the rest, the worker outturns were badly
affected.
Tea plucker |
The weather currently being experienced on the plantations is bound
to have an adverse impact on crop as well as product quality.
In a normal year, January is considered a good cropping month and if
the rains presently being experienced persist, we may see a drop in
production in January compared to previous years.
Moreover workers on plantations in the Medium and High Grown
elevations will have a break during the impending Thai Pongal Holidays
which in turn would also impact on production during the month.
No sooner the present wet weather comes to an end, Western High Grown
in particular will be hoping for bright and dry conditions to prevail in
the first quarter of the year, conditions which would be more conducive
for quality manufacture. Lets hope that we will have a fair weight of
bright teas with seasonal character that will attract sufficient buyer
interest in 2011 as the quality seasons in the recent past both in the
Western as well as in the Eastern sector have being marred by bad
weather, hence the availability of good quality seasonal Invoices were
limited.
The Ex Estate sale comprising of 1.06 Mkgs of teas met with fair
demand. Prices once again commenced Rs 10 to Rs 15 easier and concluded
being firm to somewhat dearer at times.
The tea bag sector lent fair support, while Russia was selective. UK,
Japan and Continental buyers operated following quality.
There was good demand for the 3.2 Mkg of Low Growns that were on
offer. The select best OP1s were firm, however the balance shed Rs 10 to
Rs 15. Select best BOP1s maintained last levels, balance were lower by
Rs 10 to Rs 20. Better OP and OPAs advanced Rs 10 to Rs 20, balance shed
Rs 10. Better Pekoe and Pekoe1s were firm but others were lower by Rs 5
to Rs 10. In the Small Leaf category, the better FBOPs advanced Rs 10 to
Rs 15, balance maintained last levels. Better FF1s gained Rs 5 to Rs 10.
The Better Tippy varieties were firm, however the balance shed on last
levels. There was good demand from Iran, Russia and Iraq, while Dubai,
Jordan, Syria, Saudi Arabia and Libya lent useful support.
Western Teas
Select Best BOPs declined Rs 10 to Rs 15 at the commencement of the
sale and gradually appreciated by a similar margin as the sale
progressed, other good invoices too followed a similar trend advancing
Rs 5 to Rs 10 as the sale progressed.
Select Best BOPFs too were lower by Rs 10 at the commencement of the
sale and gained Rs 10 to Rs 15 towards the latter part. Below Best sorts
too were firm to a little dearer by Rs 5, plainer varieties were Rs 5 to
Rs 10 lower. Select Best Medium BOPs were firm to Rs 5 easier, others
too followed a similar trend. BOPFs too were firm to Rs 5 easier.
Nuwara Eliya Teas
A few bright BOPs were firm on last, whilst others declined by Rs 5.
BOPFs too were Rs 5 to Rs 10 easier with a few bright invoices remaining
firm on last levels.
Uva Teas
BOPs were firm to irregularly lower. BOPFs too followed a similar
trend. Uda Pussellawa BOPs were firm to Rs 5 easier, while BOPFs too
were irregularly lower by Rs 5 to Rs 10.
CTC Teas
Select Best Low Grown PF1s were barely steady, while others were firm
to dearer by Rs 10 to Rs 15. Low Grown BP1s were easier by Rs 10 to Rs
15. High and Medium PF1s were firm to easier by Rs 5 to Rs 10, while
BP1s too were irregularly lower by a similar margin.
Low Growns
Lower demand. Select Best OP1s were firm, while others declined Rs 5
to Rs 10 and more at times, Below Best and poorer sorts continued to
attract good prices. Select Best BOP1s were firm to Rs 5 to Rs 10 dearer
following quality, while others declined Rs 10 to Rs 20 on average,
poorer sorts met with lower demand. Select Best OPs appreciated Rs 10 to
Rs 20, while the Best and the Below Best types were irregularly lower by
Rs 5 to Rs 10.
Select Best OPAs were irregularly lower by Rs 5 to Rs 10 while Best
and the Below Best types declined with a similar margin. Select Best
Pekoe/Pekoe1s declined Rs 10 to Rs 20, while Best and the Below Best
types declined Rs 5 to Rs 10 on average.
Select Best BOPs advanced Rs 5 to Rs 10, Best types were firm, Below
Best types advanced Rs 5 to Rs 10, poorer sorts tended a little
irregular. Select Best BOPSP maintained last levels, however Best and
Below Best types shed Rs 5 to Rs 10, poorer sorts met with irregular
demand. Select Best and Best FBOP and FBOPF1s advanced Rs 10 and at
times more, Below Best types gained Rs 5, poorer types were firm. Better
Tippy varieties were firm, however Best and Below Best types shed Rs 20
to Rs 30, poorer sorts too declined on last levels.
Off Grades
Select Best liquoring Fngs1s were lower by Rs 10 to Rs 15, while Best
and the Below Best types depreciated Rs 10, poorer sorts were lower by
Rs 10. Select Best BMs were firm to dearer by Rs 5, while the Best and
the Below Best types were dearer by Rs 5 to Rs 10, poorer sorts were
firm to dearer by Rs 5. BPs were irregularly dearer by Rs 5. All Low
Grown Fgs appreciated by Rs 5. Select Best BOP1As were on firm levels,
while the Best and the Below Best were firm to dearer by an average of
Rs 5, poorer sorts eased by Rs 5 on average.
Dust
Select Best Dust1s were Rs 5 to Rs 10 dearer, others in the Best and
Below Best category were irregularly dearer, while the poorer sorts shed
Rs 5 to Rs 10. Clean secondaries were firm, while the balance
appreciated Rs 5 to Rs 10. Best Low Grown Dust and Dust1s were firm,
while the balance were irregularly lower.
JKH tea market
report |