Lower demand all round
John Keells Tea Market Report:
Last week’s 1.26 mkgs of Ex Estate teas met with lower demand with
prices for both BOP/BOPFs in the Western High Grown category declining
Rs 15 to Rs 20 and more for most of the invoices on offer.
Nuwara Eliya’s continued to meet with very poor demand with a fair
weight remaining unsold.
Uva’s with some seasonal quality met with improved demand and sold
well on special inquiry.
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Tea State |
Others were barely steady. Best Low Grown CTC PF1s were mostly firm,
whilst others along with High and Medium types were firm to a little
easier.
There was selective buying from Russia and the Tea Bag sector, whilst
UK, Japan and Continental buyers operated following quality.
The 3.5 mkgs of Low Growns that were on offer last week met with
lower demand with prices for most grades declining on previous weeks
levels.
The only exception was the well made BOP1s/OP1s and may be the Tippy
varieties which held firm.
The devaluation of the Russian Ruble would have had some impact on
prices at last week’s Colombo Auction.
The weather in most Low Grown planting districts continued dry with
only moderate crops being harvested.
Western Teas
Select Best BOPs declined Rs 15 to Rs 20, other good invoices
declined by a similar margin and at times more, Below Best sorts were
firm to dearer, plainer varieties were firm. Select Best BOPFs shed Rs
20, other good invoices eased Rs 20 to Rs 30 on average, Below Best
sorts declined Rs 5 to Rs 10, plainer varieties were firm. Medium BOPs
declined Rs 15 to Rs 20. BOPFs were Rs 5 to Rs 10 lower.
Nuwara Eliya Teas
BOPs were firm to Rs 10 easier with a fair volume remaining unsold.
BOPFs declined Rs 10.
Uva Teas
Bright BOP/BOPFs sold well on special inquiry, others declined Rs 10.
Uda Pussellawa BOP/BOPFs declined Rs 10.
CTC Teas
A few select Best PF1s were firm, others declined Rs 10. BP1s gained
Rs 10. High and Medium PF1s were firm to marginally easier. BP1s were
irregular.
Low Growns
Fair demand but at lower levels. Select Best along with the Best OP1s
maintained last levels, however the Below Best and poorer sorts eased Rs
5 to Rs 10. Select Best BOP1s shed Rs 5 to Rs 10, Best types were firm
to Rs 3 to Rs 5 dearer, Below Best and poorer sorts were irregularly
dearer by Rs 5 to Rs 10. Select Best OP/OPAs declined Rs 40 to Rs 60,
Best types too were lower by Rs 10 to Rs 15, clean Below Best and poor
sorts were dearer by Rs 3 to Rs 5, others were firm. Select Best and
Best Pekoes shed Rs 10 to Rs 15, Below Best and poorer sorts were
irregularly lower by Rs 5 to Rs 10. Shotty Pekoe1s were steady, however
the balance tended lower by Rs 5 to Rs 10. Select Best BOP/BOP. SPs
eased Rs 5 to Rs 10, Best and Below Best types declined by a similar
margin, poorer sorts shed Rs 10. Select Best FBOPs were lower by Rs 10,
Best and Below Best types declined Rs 5 to Rs 10, poorer sorts were
lower by Rs 10. Select Best and Best FBOP1/FBOPF1s were lower by Rs 10,
Below Best types shed Rs 5 to Rs 10, poorer sorts too eased by Rs 10 per
kg. Select Best Tippy varieties were firm, however the Best and Below
Best types shed Rs 20 to Rs 30 and at times more whilst the poorer sorts
too were lower to last.
Off Grades
Select Best and Best liquoring FNGS1s were lower by Rs 5 to Rs 10,
whilst the Below Best and poorer sorts depreciated Rs 20 and more at
times. Select Best and Best BMs were lower by Rs 5, whilst the Below
Best and poorer sorts sold at firm levels.
All Low Grown Fngs depreciated Rs 20 and more at times. All BPs
appreciated by Rs 20. Select Best BOP1As along with the Best declined Rs
10 to Rs 20 and more as the sale progressed, Below Best and poorer sorts
too were lower by a similar margin.
Dust
Select best Dust1s declined Rs 10 to Rs 15, a few Dust1s in the Best
category appreciated Rs 5 to Rs 10, whilst the Below Best and poorer
sorts declined Rs 10 to Rs 15 and more towards the end. Clean
secondaries were firm whilst the balance shed Rs 10 to Rs 15. Best Low
Grown Dust/Dust1s were firm whilst the balance shed Rs 5 to Rs 10. |