Tea auction’s offerings decline again amid strong demand

Total auction offerings declined to 5.1 M/Kgs. Once again amid strong demand in the backdrop of extremely low volumes on offer, according to Forbes & Walker Tea Brokers comments.

The tea comments further said:

Ex-Estate offerings totalled 0.54 M/Kgs, marginally lower to last. Quality of offerings were generally maintained with a few select seasonal teas from Uva showing up.

Best Western BOP/BOPF’s continued to sell well around last week’s levels subject to some price fluctuations which were reflective of quality.

In the Below Best and Plainer categories, neat leaf BOP’s were up to Rs. 50 per kg dearer, whilst the others were barely steady. Corresponding BOPF’s were firm and selectively dearer by up to Rs. 30 per kg. Nuwara Eliyas’ were irregular and easier. Uda Pussellawa – BOP’s were firm, whilst the corresponding BOPF’s were irregular following quality. Uva – few seasonal invoices sold at dearer rates. Other Uva BOP’s Rs. 20-40 per kg easier, whilst the corresponding BOPF’s were mostly firm.

High and Medium Grown CTC teas gained Rs. 20-40 per kg, with select BP1 invoices gaining substantially. Low Grown varieties – BP1/PF1’s were mostly firm with secondary types gathering momentum in the backdrop of its limited availability.

Low Growns comprised of 2.3 M/Kgs in the Leafy/Semi Leafy and Tippy catalogues.

There was lower demand. Well-made teas were easier. However, cleaner Below Best and cleaner teas at the bottom were firm to selectively dearer, whilst others maintained last week levels.