John Keells Tea Market Report:
Good demand for Low Growns
Following negotiations between the Employers’ Federation of Ceylon
representing the Regional Plantation Companies and Estate Worker Unions
a 33 percent increase in the basic wage was agreed upon. According to
the new agreement a plantation worker’s basic wages has been increased
to Rs 380 from Rs 285 whilst the total daily wage has increased 27
percent to Rs 515 from the previous Rs 405.
Sri Lanka has one of the highest production cost compared to other
major tea producing countries with wages alone accounting for 60 to 70
percent of production cost.
Last week’s Ex-Estate market comprising of 1.5 mkgs. of tea met with
fair demand and commenced firm to dearer, particularly for the better
Western High Grown invoices on offer.
A plantation worker’s basic wages has been increased to Rs 380
from Rs 285 whilst the total daily wage has increased 27 percent
to Rs 515 from the previous Rs 405 |
However prices were not sustained and ended the sale being firm to a
little easier. Nuwara Eliya’s once again met with less demand with
prices selling in the range of Rs 260 to Rs 275 for most of the BOPs
with only a handful of invoices registering prices between Rs 300 to Rs
335, BOPFs on the other hand sold between Rs 265 to Rs 275 with a fair
weight remaining unsold.
Uva’s were a little dearer following quality. Best Low Grown CTC PF1s
were firm, others declined Rs 15 to Rs 20 on average. High and Medium
types which commenced firm to a little easier, declined further as the
sale progressed with a fair weight remaining unsold.
The 3.8 mkgs of Low Grown that came under the hammer this week met
with good demand. In the leafy category, well made BOP1 and OP1s
advanced sharply, however the Below Best OP1s were difficult of sale.
OPA and Pekoes continued its down words trend. In the small leaf
category FBOP and FBOPF1s mainly sold around last levels, the tippy
varieties too met with a firm market.
Crop intake from most Low Grown districts have declined during the
past week, hence auction volumes in the month of July is expected to
decline from the current high levels.
Western Teas
Select Best BOPs advanced following special inquiry, Other Good
Invoices gained Rs 10, Below Best sorts were firm to marginally dearer,
plainer varieties were firm to Rs 5 dearer. Select Best BOPFs advanced
Rs 10, Other Good Invoices were firm to dearer, Below Best sorts were
firm, plainer varieties were firm to dearer. Medium BOPs advanced Rs 10
to Rs 15. BOPFs were firm.
Nuwara Eliya Teas
A few bright BOPs were firm, others were firm to irregular. BOPFs
maintained last levels.
Uva Teas
BOPs were firm. BOPFs gained Rs 10. Uda Pussellawa BOPs were firm to
irregular. BOPFs declined Rs 10.
CTC Teas
Select Best PF1s were firm, others declined Rs 15 to Rs 20. BP1s shed
Rs 5 to Rs 10. High and Medium PF1s eased Rs 10 and more as the sale
progressed with a fair volume remaining unsold. BP1s declined Rs 15 to
Rs 20 on average.
Low Growns
Fair demand. Select Best OP1s appreciated Rs 5 to Rs 10, whilst the
Best and Below Best types were irregularly lower by Rs 10 to Rs 15 and
many invoices remained unsold due to lack of bids.
Select Best BOP1s appreciated Rs 10 to Rs 15 and more at times
following quality, whilst the Best and Below Best types were firm.
Select Best OP/OPAs appreciated Rs 3 to Rs 5 following quality, whilst
the Best and Below Best types declined Rs 5 to Rs 10 and more at times,
poorer sorts were firm.
Shotty Pekoe/Pekoe1s appreciated Rs 5 to Rs 10, however the Best and
Below Best types declined Rs 5 to Rs 10 on average, poorer types were
steady.
Select Best BOP.SPs maintained last levels, Best types eased Rs 5 to
Rs 8, Below Best types too were barely steady, poorer sorts were firm.
Select Best BOPs maintained last levels, Best and Below Best types
were lower by Rs 5 to Rs 10, poorer sorts gained Rs 5 to Rs 10. Select
Best FBOPs eased Rs 5 to Rs 10, Best types were firm, Below Best sorts
tended a little irregular, poorer types maintained last levels.
Select Best FF1s were firm, Best and Below Best types were lower by
Rs 5 to Rs 10, poorer sorts gained Rs 5 to Rs 10.
Select Best tippy varieties declined a few rupees on last levels,
Best and Below Best sorts met with similar demand, poorer types shed Rs
5 to Rs 10
Off Grades
Select Best liquoring Fngs1s appreciated by Rs 5 to Rs 10, whilst the
Below Best and poorer sorts too advanced Rs 10 to Rs 15 and more as the
sale progressed. Select Best BMs gained Rs 10 to Rs 15 on average,
whilst the Below Best and poorer sorts appreciated by Rs 5 to Rs 15. All
BPs were dearer by Rs 5 to Rs 10.
All Low Grown Fngs were firm to dearer by Rs 5. Select Best BOP1As
were irregularly dearer by Rs 5 to Rs 10 and more at times, Best and
Below Best along with the poorer sorts too gained by similar margins and
more as the sale progressed.
Dust
Select Best Dust1s were firm, whilst the Best and Below Best types
declined Rs 5 to Rs 10, poorer sorts declined further. Clean secondaries
shed Rs 5 to Rs 10, whilst the balance declined further. Best Low Grown
Dust/Dust1s were firm, whilst the balance were irregularly lower. |