ECONOMYNEXT – Sri Lanka’s High and Low Grown teas gained at the auction held on January 11 while some Mid Growns fell with lower volumes coming up for auction, brokers said.
“Auction offerings barely totalled 5.0 M/Kgs and the sentiment for production remaining low perhaps triggered a buoyant market,” Forbes and Walker brokers said.
“There was good general demand”.
Last year 4.9 million kilos were offered at the second auction in January.
All districts recorded a decline in crop intake except for Nuwara Eliya, Ceylon Tea Brokers said.
In 2022, Sri Lanka’s tea output fell to xxx million from xxx million in a lagged effect from a fertilizer ban imposed by President Gotabaya Rajapaksa.
Heavy showers are to be expected in the Ruhuna and Sabaragamuwa districts and Uva in the coming days, brokers said.
High grown BP01 was up about 50 rupees, this week while BOP, BOPF and PF01 were steady, Ceylon Tea Brokers said.
Last week the High Grown sale average was 1438.04 rupees.
“Below Best and plainer types were lower by 50 rupees per kg. Nuwara Eliya’s were mostly unsold. Uda Pussellawa’s gained by 50 rupees per kg. Uva’s remained firm,” Ceylon tea brokers said.
Low Growns OP/OPA was up by 50 rupees and PEK was up by 80 rupees, this week while BOP 1 and OP1 remained steady.
Last week the Low Growns sale average was 1538.61 rupees.
The 2.3 million kilos offered met with good demand, brokers said.
In the Leafy & Semi Leafy catalogues, select Best OP1/BOP1’s together with a range of improved Below Best varieties gained, whilst the others and poorer sorts too were fully firm.” Forbes and Walker brokers said.
“Well-made OP/OPA’s in general were fully firm to selectively dearer, whilst the others and poorer sorts maintained. PEK/PEK1’s, in general, fully firm to dearer.”
BOP1 Select best gained, whilst best and below best were irregularly lower. Poorer types maintained.
OPA Select best maintained, whilst best and below best were firm to dearer. Teas at the lower end gained.
FBOP/FBOP1 Select best and best were dearer, whilst others too had an improved market.
BOP Few well-made invoices were firm, whilst others were slightly easier.
Medium Grown FBOP and FBOPF1 was down by 100 and 150 rupees respectively this week, while PEK 1 was up about 100 rupees and OP1 was up by 50 rupees, Ceylon Tea Brokers said.
Last week the medium Growns sale average was 1256.26 rupees.
OP/OPA Select best and the poorer sorts were up by 100 rupees per kg whilst the Best and the Below best gained by 50 rupees per kg.
FBOP/FBOPF1 FBOP: Select best lower by 50 rupees per kg whilst the Best down by 100 rupees per kg.
Below best and the poorer sorts declined by 50 rupees per kg.
FBOPF1: Select best, best and the below best teas were down by 100 rupees per kg whilst the lower end teas dropped by 50 rupees per kg. (Colombo/Jan 15/2023)