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Sri Lanka tea prices pick up

ECONOMYNEXT – Sri Lanka tea prices picked up in the final sale for July amid improved demand for Ex-Estate, while Low Grown teas saw good demand, brokers said.

Sri Lanka sold 6.1 million kilograms of tea, selling 0.9 million kilograms in Ex-Estate teas (teas sold while in the factory itself to retain quality) while selling 2.6 million kilograms in Low Grown (Leafy/Tippy) teas.

It was reported that 6.7 million kilograms of tea were sold in total at the auction held last week.

High Growns

Brokers said that Ex-estate teas saw improved demand, while Low Growns saw good demand in the auction held on 28th and 29th July.

Last week, the High Grown auction average was tea sale average of 534.03 rupees.
In BOP grades, Best westerns were irregular while a selection of improved below best teas gained by 20-30 rupees a kilogram.

BOP Nuwara Eliya’s recorded limited offerings this week. Uva’s went up by 20 rupees a kilogram while Uda Pussellawa prices were barely steady.

In BOPF grades, select Best Westerns picked up 20 rupees a kilogram while Below best brighter clean leaf types prices gainedup to 20 rupees, brokers said.

BOPF grade Nuwara Eliya’s were reportedly firm. Uda Pussellawa were irregular while Uva’s declined 20-30 rupees
Medium Growns

Last week, the Medium Grown auction average was 520.05rupees up 6.99 rupees from a week before.
Well-made OP/OPA’s gained by 10-20 rupees per kilogram. Others together with the teas at the lower end too were firm to marginally gaining.

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BOP prices were irregular while BOPF grades were firm, tea brokers said.

Select Best FBOPs prices were irregular whilst others eased marginally owing to low quality.

Select best FF1’s prices eased as well. Others eased marginally as the sale progressed.

Low Growns

Last week the Low Grown tea sale average was 667.82 rupees up by just 59 cents from a week earlier.

Expensive BOP1 grades gained in price, while the others sold around the last sale’s prices.

Select best and best BOP’s maintained whereas cleaner below best and cleaner teas at the bottom were picked up in prices.

Better OPA’s were fully firm whilst others particularly the clean below best sorts gained 10- 20 rupees per kilogram. At the lower end cleaner types gained whilst others were fully firm.

Well made, very tippy FBOPF/FBOPF1teas attracted good demand while Bests and cleaner Below picked up selectively.
Select best and best FF1’s were firm to selectively dearer.

CTC

In CTC teas, high grown BP1s were irregular with some selected invoices gained and PF1s were lower were firm as the sale progressed.

Mid grown BP1 prices were irregularly while PF1 prices were barely steady, brokers said.

Low grown BP1s were fim and continued to sell at fairly attractive prices, brokers said. PF1s were firm and prices picked up along the aiction.

Crop

The Department of Meteorology predicts showers in the Western region in the week ahead with showers and thundershowers expected within a few areas in Uva province and the Sabaragamuwa region.

Western/Nuwara Eliya regions reported dull mornings and overcast evenings throughout the course of the week.
Uva/Udapussellawa regions reported bright mornings and overcast evenings during the week.

Low Growns in the Ruhuna and Sabaragamuwa regions reported bright mornings and dull evenings.

According to the Department of Meteorology, fairly heavy rainfall (above 75 mm) is expected in the Sabaragamuwa region during the week ahead.

The Western, Nuwara Eliya, Uva and Udapussellawa regions maintained the crop intake, whilst the Ruhuna and Sabaragamuwa regions showed a decrease. (Colombo/Aug10/2020)