Low growns in excellent demand
The latest tea crop statistics released by the Sri Lanka Tea Board, records a marginal increase of 1.2Mkgs in July compared to the corresponding period of 2009. Once again it has been the mid grown that have recorded significant gains of 26 percent followed by 9 percent from the High grown. Today’s Ex Estate sale comprising of a little over a million kgs of tea met with good demand where prices improved substantially as the sale progressed. It was pleasing to note the additional interest shown for the Western High Grown BOPs that had been neglected for some time.
Western High Grown BOPFs commenced on an irregular note but appreciated Rs 20 to Rs 25 as the sale progressed. Nuwara Eliya BOPs witnessed an easier market whilst BOPFs maintained its price range of Rs 400 to Rs 410 on average. Most of the Uva BOPs, with some seasonal character sold above Rs 400 with the best on offer selling at Rs 980. BOPFs too appreciated Rs 30 to Rs 40 for the best on offer whilst plainer teas, being barely steady.
CTC PF1s were well sought after with High and Medium types gaining Rs 25 to Rs 30 on average. Low Growns on the other hand maintained its strong price structure selling between Rs 500 to Rs 530, which is also Rs 5 to Rs 10 dearer to last week. Russia and the Tea Bag Sector lent useful support, while Japan and Continental buyers bid strongly on selected improved teas.
3.3 Mkgs of Low growns that were on offer this week met with excellent demand. Prices for most grades advanced Rs 10 to Rs 20 with the exception of the stalky OPAs and the flaky FBOPs.
The Low Grown average for this weeks sale is expected to surpass the Rs 400 level.
There was excellent demand from Russia, Iran and Iraq, whilst Dubai, Syria, Saudi Arabia and the Middle Eastern countries lent useful support.
Western Teas
A few Select Best BOPs advanced Rs 5 to Rs 10, other good invoices were firm, Below Best sorts were firm to dearer, plainer varieties maintained.
Select Best BOPFs were firm to dearer, other good invoices advanced Rs 5 and substantially more as the sale progressed, Below Best sorts advanced to Rs 10 and more as the sale progressed, plainer varieties were firm to dearer. Medium BOPs declined Rs 15 to Rs 20, whilst the BOPFs were irregular. Nuwara Eliya Teas BOPs declined Rs 10 to Rs 15 with a fair volume remaining unsold. BOPFs were firm.
Uva Teas Bright seasonal BOP/BOPFs sold well on special inquiry, other BOPs on offer advanced Rs 5 to Rs 10, whilst the BOPFs gained Rs 10 on average. Uda Pusellawa BOP/BOPFs advanced Rs 5 to Rs 10.
CTC Teas
Low Grown PF1s gained Rs 10. BP1s were firm to irregular. High & Medium PF1s advanced Rs 10 to Rs 15 and more. BP1s gained Rs 10.
Low Growns
Excellent demand. Select Best OP1s were firm to Rs 5 to Rs 10 dearer, Best along with the wiry Below Best types gained sharply by Rs 20 to Rs 30 and more at times, poor types too were dearer by Rs 5 to Rs 10 following quality. Select Best BOP1s were irregularly lower by Rs 5 to Rs 10, however the Best types were fully firm, others and improved Below Best types gained Rs 10 to Rs 20, poor types were irregular.
Select Best OPs eased Rs 10, Best types were steady, Below Best and poor sorts were irregularly lower by Rs 5 to Rs 10 and more at times. Select Best OPAs appreciated Rs 5 to Rs 10, however the Best types declined Rs 10 on average, Below Best types maintained last levels, poor types tended lower by Rs 5 to Rs 10. Select Best Pekoes declined Rs 10 to Rs 20, however the Best types appreciated Rs 10 to Rs 15, balance too gained sharply by Rs 10 to Rs 20 and more following quality. Select Best Pekoe1s along with the Best types advanced Rs 10 to Rs 20, Below Best and poor sorts too were irregularly dearer by a similar margin.
Select Best and Best BOP.SPs were firm, Below Best and poorer types were irregularly lower to last.
Select Best and Best BOPs moved up Rs 5 to Rs 10, Below Best types too gained by a similar margin, poorer types shed by a similar margin. Select Best FBOPs met with strong demand and moved up by Rs 20 and at time more as the sale progressed particularly towards the latter part, Best types too gained by a similar margin, Below Best types and poorer sorts too advanced Rs 10 to Rs 20. Select Best and Best FBOPF1s moved up by Rs 20, Below Best types too gained by a similar margin, poorer types met with irregular demand. Select Best tippy varieties were irregularly lower to last, Best and Below Best types declined Rs 20 to Rs 30, poorer types often remained neglected and difficult of sale.
Off Grades
Select Best liquoring FNGS1s appreciated Rs 10, while the Best and the Below Best were firm to dearer by Rs 5 to Rs 10, poorer sorts appreciated Rs 5. All BPs were irregularly dearer by Rs 10. Select Best and Best BMs were dearer by Rs 20 to Rs 25 and more at times, Best and the Below Best appreciated Rs 10, poorer sorts sold at firm levels. All Low Grown Fngs were irregularly dearer by Rs 5. Select Best and Best BOP1As appreciated Rs 10 to Rs 15 and more at times, Below Best and poorer sorts were firm on last.
Dust
Select Best Dust1s were firm, improved teas in the Best and Below Best category gained Rs 5 to Rs 10 whilst the balance and the poorer sorts declined Rs 10 to Rs 15. Clean secondaries were firm, whilst the Below Best types were irregularly lower, poorer sorts were firm. Best Low Grown Dust / Dust1s were firm, whilst the balance shed to Rs 10 to Rs 15. JKH tea repot
source - www.dailynews.lk
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