Monday, October 18, 2010
John Keells Tea Market Report:
The 0.86 million kgs of ex estate teas met with stronger demand at today’s sale. The Western High Grown BOPs commenced on a firm note Rs 15 to Rs 20 dearer, which strengthened further with the progress of the sale.
BOPFs too gained a similar margin, particularly for the below best and plainer types. The best on offer was irregularly dearer.
Nuwara Eliya BOPs were firm to Rs 5 dearer, whilst BOPFs declined Rs 10 to Rs 15 Colory Uva BOP/BOPFs sold well with price gains of Rs 15 to Rs 20 whilst others were irregular following quality.
Other than for a handful of Low Grown CTC PF1s that sold well, all others eased Rs 20 to Rs 30 on average with some invoices remaining unsold. High and Medium types on the other hand were firm to Rs 5 to Rs 10 dearer.
Russia and the tea bag sector lent useful support, while Japan, UK and Continental buyers were selective.
The 3.4 million kilograms of Low Growns that were on offer this week met with improved demand. There was more inquiry from most Iranian buyers and it appears that we have got over the period of uncertainty with regard to the banning of the imports on some food items. We are also made to understand that the local buyers are now receiving payments on previous exports to Iran, which augurs well for the Low Grown Small Leaf and Tippy varieties.
Most leafy varieties too were fully firm if not dearer, whilst the Small Leaf sorts particularly the well made types appreciated in value.
There was good demand from Russia and Iran whilst, Iraq, Dubai, Syria, Saudi Arabia and other Middle Eastern countries also lent useful support.
Select Best BOPs advanced Rs 30 to Rs 40 and more at times, other good invoices gained Rs 30 and more, Below Best sorts advanced Rs 20, Rs 30 on average, plainer varieties appreciated Rs 20 and more. Select Best Western BOPFs eased Rs 10, other good invoices gained Rs 10 to Rs 15 and more as the sale progressed, Below Best and plainer varieties declined Rs 20 but eased as the sale progressed. Western Medium BOP/BOPFs were firm to dearer.
Nuwara Eliya Teas
Nuwara Eliya BOPs were firm, whilst the BOPFs declined Rs 15 to Rs 20 on average.
Coloury BOPs advanced Rs 15 to Rs 20, others were Rs 10 to Rs 15 dearer. BOPFs advanced Rs 20 on average.
A few select Best Low Grown PF1s were firm, most others declined Rs 30 with a large volume remaining unsold. BP1s declined Rs 15 to Rs 20. High and Medium PF1s/BP1s were firm.
Fair demand. Select Best OP1s appreciated Rs 10 to Rs 20, whilst the balance were fully firm. Select Best BOP1s were firm to Rs 5 to Rs 10 dearer at times, Best types maintained last levels, however the Below Best types were irregularly lower by Rs 5 to Rs 10 following quality, poor types were firm.
Select Best OPs eased Rs 10 to Rs 20, however the Best types were firm to Rs 5 to Rs 10 dearer, Below Best and poor sorts were fully firm.
Select Best OPAs were irregularly lower by Rs 5 to Rs 10, Best types were firm on last levels, Below Best and poor sorts were firm to Rs 3 to Rs 5 dearer.
Select Best Pekoes eased Rs 10 on average, however the bold Pekoe varieties gained Rs 5 to Rs 10. Select Best Pekoe1s advanced Rs 5 to Rs 10 and more at times, Best and Below Best types were dearer by Rs 5 to Rs 10, clean Flaky varieties too were dearer by a similar margin, the balance were firm.
Select Best BOP/BOP.SP maintained last levels, Best and Below Best types were irregularly lower to last, poorer sorts maintained last levels.
Select Best FBOP/FBOPF1s were firm, Best types advanced a few rupees, Below Best and poorer sorts were irregularly lower to last.
Select Best and Best tippy varieties met with fair demand and at times tended lower to last, Below Best and poor sorts shed Rs 10 to Rs 15
Select Best liquoring Fngs1s were dearer by Rs 20 to Rs 25, whilst the Best and Below Best appreciated Rs 10 to Rs 15, poorer sorts were dearer by Rs 10. All BPs were lower by Rs 20 to Rs 25. Select Best and Best BMs depreciated Rs 10 to Rs 15, whilst the Below Best and poorer sorts shed Rs 15 to Rs 20 and more at times.
All Low Grown Fngs were irregularly lower by Rs 5. Select Best BOP1As were firm to dearer by Rs 5 to Rs 10 , whilst the Best fetched prices of last levels, Below Best and poorer sorts however shed Rs 10 to Rs 20 and more at times with very low demand.
Select Best Dust1s along with the Best and Below Best types declined Rs 15 to Rs 20, whilst the poorer sorts declined further. All secondaries shed Rs 15 to Rs 20, Best Low Grown Dust/Dust1s declined Rs 5 to Rs 10 whilst the balance were irregular.
source - www.dailynews.lk