ECONOMYNEXT – Sri Lanka tea prices picked up at the last auction in November amid low volumes, brokers said.
“Auction offerings continued to record a further decline and totalled 4.2 million Kilograms, of which Ex-Estate offerings comprised of 0.6 million Kilograms. There was good demand,” Forbes and Walker Tea brokers said.
“In the Ex-Estate catalogues, overall quality of teas showed no appreciable change. Here again, there was good demand in the backdrop of extremely low volumes.”
BOP Best Westerns were firm to 50 rupees per kg dearer. Below best and plainer types were Rs.50/- per kg easier on last.
Nuwara Eliya’s were firm.
BOPF Best Westerns were firm to selectively dearer. Below best and plainer teas declined by 50 rupees per kg.
Uva/Uda Pussellawas’ were generally firm and price variances were often reflective of quality with the exception of Select Best Uva BOPF’s which were firm and up to 50 rupees per kilogram dearer.
CTC teas, in general, were mostly firm.
“Most regular buyers were active, with perhaps a slightly more forceful trend from the local trade,” brokers said.
Corresponding OP1’s met with improved demand. Well-made OP/OPA’s in general were fully firm, whilst the Below Best varieties and poorer sorts met with improved demand. PEK/PEK1’s, in general, were fully firm to selectively dearer.
In the Tippy catalogues, well-made FBOP/FF1’s sold around last levels, whilst the cleaner Below Best and cleaner teas at the bottom appreciated. Balance too were dearer to a lesser extent.
In the Premium catalogues, very Tippy teas continued to attract good demand. Best were firm to selectively dearer, whilst the Below Best and cleaner teas at the bottom appreciated
Low Growns comprised 1.8 million Kilograms. Market met with improved demand, in general.
In the Leafy & Semi Leafy catalogues, select Best BOP1/OP1’s were fully firm, whilst the Below Best/bolder BOP1’s were barely steady.
Low-grown teas, farmed mainly by smallholders and exported to the Middle East and Central Asia, are the most sought-after and expensive Ceylon Teas.
Low-grown CTC prices have gained this week to 982.80 per kilogram this week from 934.76 per kilogram last week.
Few Select best BOP1s maintained, whilst best and below best were irregularly lower. Poorer types maintained.
BOPF’s in general, firm market.
FBOPF/FBOPF1’s select best and best increased in value, whilst the below best and bottom held firm.
Selected best BOP1’s maintained, whilst best and below best were irregularly lower.Poorer types maintained.
OP1’s selects best together with best and below best were firm to dearer. Poorer sorts were fully firm.
BOPF’s, select best gained by 50 rupees per kilogram. Others maintained.
BOP1’s select best dearer by 100 rupees per kg whilst all others moved up by 50 rupees per kg.
OP1: select best gained by 100 rupees per kg whilst all others dearer by 100 rupees per kg.
OP/OPA’s in general, dearer by 50 rupees per kg whilst the poorer sorts were firm.
PEK’s Select best gained by 50 rupees per kg whilst all others maintained. PEK1: In general, dearer by 50 rupees per kg. (Colombo/Dec 04/2022)