ECONOMYNEXT – Sri Lanka’s Ceylon high grown tea prices fell 30-50 rupees per kilogram at an auction on June 07, as the rupee strengthening continues, while medium and low grown were stable,market data showed.
Total auction volume was increased to 6.95 million kilograms from last week’s 5.9 and there was good general demand, Forbes and Walker tea brokers said in a report.
“Overall quality was generally lower to last with a handful of teas maintaining the previous week’s quality standards,”Forebes and Walker said.
The weekly sale average grew 3.98 rupees to 957.14 rupees from 953.16 rupees, according to data.
“A concerning feature in the liquoring category would be the sharp decline in prices of the Dust grades and its high volume of unsold teas, particularly towards the close.”
High Growns
The High Grown sale average was down by 23.86 rupees to 834.60 from 858.48 rupees, Ceylon Tea Brokers said.
Ex-Estate offerings continued to be maintained around approximately 1.0 million kilos.
“The limited availability of the Select Best Western BOP/BOPF’s were firm,” Forbes and Walker said.
BOP, BOPF and BP1 prices fell by 50 rupees and the price of PF1 fell by 30 rupees per kilo.
Low Growns
Price of BOP1 and PEK grew by 50 and 60 rupees per kilo respectively and while OP1 was down by 70 rupees and OP/OPA was down by 30 rupees.
Low Growns comprised 2.8 million kilos.
The average price of Low Grown grew 3.83 rupees to 1,040.78 rupees per kilo in the last auction.
“In the Leafy and Semi-Leafy catalogues, high priced OP1’s were down,” Forbes and Walker said.
“Best and Below Best varieties sold around last levels, whilst teas at the bottom declined. Few select Best BOP1’s appreciated, whilst the Best and Below Best varieties sold around last levels. Teas at the bottom fell,”
In FBOPF/FBOPF1 select best and best FBOPF1’s were steady on last; others were up by 50-80 rupees per kilo. FBOPF’s had all-round lower market.
Medium Growns
The Medium Growns sale average grew 11.13 rupees to 833.90 rupees last week.
FBOP and PEK1 were up by 50 rupees per kilo and FBOPF1 was up by 20 rupees.
OP1 fell 100 rupees per kilo.
(Colombo/June 11/2023)