John Keells Tea Report :
Fair demand for Ex-Estate teas
The Western Quality season, which is witnessed in the first quarter
of the year has been badly disrupted due to erratic weather conditions.
Unseasonal weather which on more than one occasion produced extremely
heavy rainfall has so far not enabled estates in the Western region to
produce teas with seasonal character.
A highland tea estate |
It would appear that the overall quality from this sector will be
disappointing, unless there is an immediate change in the weather.
In the meantime weather conditions on the Eastern sector which
experienced heavy rainfall at the commencement of the month has abated,
with much brighter weather being reported.
However the unusually heavy rainfall has taken a heavy toll on crop
intakes with some factories shutting down operations and diverting leaf
to other factories for economic reasons.
The 1.1 mkgs. of Ex Estate teas on offer met with fair demand. A few
bright Western BOP and BOPFs sold well on special inquiry, whilst the
others were barely steady. Nuwara Eliya BOP and BOPFs were selectively
dearer with excellent demand for FBOP and Pekoe1s.
Uva BOPs were firm, where as the BOPFs were marginally lower.
Low Grown CTC PF1s were Rs 20 lower whilst the High and Medium PF1s
advanced Rs 10 There was improved demand for the brokens.
The 3.4 mkgs. of Low Growns on offer this week met with widespread
demand. It is evident that the unrest in the Middle East and also North
Africa has not affected the tea purchases at the Colombo Auctions. In
the Leafy category the bold Pekoes appreciated quite sharply with most
Syrian and Russian buyers bidding strongly.
The OP and OPAs too continued its bullish trend.
The top end of the BOP1 and OP1s saw a slight market correction,
whilst the Below Best and stalky varieties maintained previous levels.
In the small leaf category FBOP and FBOPF1s once again met with better
inquiry with prices appreciating marginally, however the Tippy sorts
shed several Rupees.
There was excellent demand by Russia, Iran, Iraq, Libya and Syria,
whilst Dubai, Jordon, Saudi Arabia and Middle Eastern markets too lent
useful support.
After the heavy rains that were experienced in the Low Grown planting
districts the weather has changed from one extreme to another with very
hot and humid conditions being experienced.
Crop intakes have not shown any significant improvements, hence the
volumes on offer for the future auctions would not see any drastic
changes.
Western Teas
A few select Best BOPs sold well on special inquiry, other good
invoices were barely steady, Below Best and plainer varieties declined
Rs 5 to Rs 10.
A few Select Best BOPFs sold well on special inquiry, other good
invoices declined Rs 10, Below Best and plainer varieties were firm to
irregular.
Medium BOPs were irregularly dearer. BOPFs were barely steady.
Nuwara Eliya Teas
A few bright BOPs and BOPFs advanced Rs 10, others were firm
irregular.
Uva Teas
BOPs were firm whilst the BOPFs were marginally lower. Uda Pussellawa
BOPs and BOPFs were firm to irregular.
CTC Teas
Low Grown CTC PF1s declined Rs 15 to Rs 20 BP1s were firm to easier.
High and Medium PF1s advanced Rs 10 BP1s gained Rs 15 to Rs 20.
Low Growns
Fair demand. Select Best OP1s declined Rs 5 to Rs 10, Best types too
were lower by Rs 10 to Rs 20, Below Best and poor sorts were firm to Rs
5 to Rs 10 lower at times.
Select Best BOP1s were firm to Rs 5 to Rs 10 dearer, however Best
types declined sharply by Rs 20 to Rs 30, Below Best and poor sorts
eased Rs 10 to Rs 20 Select Best along with the Best OPs appreciated Rs
5 to Rs 10, Below Best and poor sorts maintained last levels. Select
Best OPAs were irregularly dearer by Rs 5 to Rs 10, however the Best
types were irregularly lower by Rs 5 to Rs 10, Below Best and poor sorts
were firm. Select Best Pekoes gained Rs 10 to Rs 20, the balance too
were dearer by Rs 5 to Rs 10.
Shotty Pekoe1s shed Rs 20 to Rs 30 following quality, however the
Best and Below Best types were irregularly dearer by Rs 5 to Rs 10, poor
types were firm. Select Best and Best BOPs moved up Rs 5 to Rs 10, Below
Best types were firm, poor types gained Rs 5 to Rs 10.
Select Best and Best BOP. SPs maintained last levels, Below Best
types shed Rs 5 to Rs 10, poor types were barely steady. Select Best
FBOPs maintained last levels, Best and Below Best types were irregularly
lower to last by Rs 5 to Rs 8, poor types gained Rs 5 to Rs 10. Select
Best FBOPF1s maintained last levels, Best and Below Best types were
lower by Rs 5 to Rs 8, poor types gained Rs 5 to Rs 10 Select Best tippy
varieties maintained last levels, Best and Below Best types were lower
to last, poor types were barely steady.
Off Grades Select Best and Best liquoring FNGS1s depreciated Rs 10,
Below Best and poorer sorts eased by Rs 10 to Rs 15. Select Best and
Best BMs appreciated Rs 10, Below Best and poorer sorts were firm to
dearer by Rs 10. All BPs were irregularly dearer by Rs 5.
All Low Grown FNGS appreciated Rs 10 to Rs 15 and more at times.
Select Best BOP1As were firm to dearer by Rs 10 to Rs 15, Best and Below
Best were firm on last levels, poorer sorts however was easier by an
average of Rs 5 and more at times.
Dust Select Best Dust1s were firm. Best and Below Best Dust1s
appreciated Rs 10 to Rs 15 at the commencement of the sale but declined
Rs 5 to Rs 10 during the closing stages, poorer sorts were firm.
Clean secondaries maintained last levels whilst the balance gained Rs
10 to Rs 15.
Best Low Grown Dust and Dust1s gained Rs 10 to Rs 15 whilst the
balance too gained Rs 15 to Rs 20. |