ECONOMYNEXT – Sri Lanka’s Ceylon tea prices were down 50-100 rupees per kilogram at an auction on April 26, amidst good demand, data showed.
Total auction volume was 5.4 million kilograms and there was good general demand, Forbes and Walker tea brokers said in a report.
“Auction offerings increased marginally and totalled 5.4 M/Kgs. There was fair demand mostly at firm to easier rates. Unsold volumes recorded an increase and perhaps totalled around a 22%”
The weekly sale average fell by 6.77 rupees to 1252.92 rupees from 1259.69 rupees, according to data.
High Growns
The High Grown sale average was down by 25.90 rupees to 1,215.79 from 1,241.69 rupees, Ceylon Tea Brokers said.
Ex-Estate offerings totalled 0.71 million kilos.
Overall quality of teas on offer were barely maintained with a limited availability of better liquoring teas, Forbes and Walker said.
BP1 and BOPF prices fell by 500 rupees and the price of BOP fell by 100 rupees per kilo.
Ceylon Tea brokers said, the drop in quality was the main reason for the price drop.
Low Growns
Price of OP1 and BOP1 went down by 50 rupees, OP/OPA went down by 70 rupees while PEK fell by 80 rupees.
Low Growns comprised 2.4 million kilos.
The average price of Low Grown however, gained 5.60 rupees to 1,315.51 rupees per kilo in the last auction.
Leafy and Semi Leafy catalogues met with fair demand, whilst the Small Leaf categories were easier.
In the Leafy and Semi Leafy catalogues, high priced OP1/BOP1’s were firm, whilst the others where quality was not maintained met with less demand. OP/OPA’s, in general, were easier. Well-made PEK/PEK1’s maintained, whilst the others were irregular.
In the Tippy catalogues, well-made FBOP’s together with the cleaner Below Best were firm, whilst the balance were irregular. FF1’s, in general, were easier.
In the Premium catalogues, a selection of high priced Tippy teas sold around last levels, whilst all others declined.
Medium Growns
The Medium Growns sale average fell 27.62 rupees to 1,057.42 rupees last week.
FBOP and FBOPF1 fell 100 rupees per kilo and PEK fell 150 rupees per kilo.
High & Medium Grown CTC teas – High Grown BP1’s had hardly any offerings, Forbes and Walker said.
Shippers to the CIS operated on a wide cross-section of the offerings. Fair activity from South Africa and Japan, whilst the UK and the continent remained selective.
(Colombo/April 30/2023)