Most of the tea growing regions continue to experience heavy rains, which is not favourable to growing conditions. September is normally a slightly drier month but several areas have reported heavy showers with overcast conditions particularly during the last fortnight of the month. Except for a few days of dry weather at the commencement of the month, heavy downpours have been recorded thereafter.
On the production front crop prospects look a little bleak now, unless there is brighter weather to follow. It will take some time before a substantial jump in crop levels is recorded.
The latest statistics indicate that the total tea exports to end of August 2010 amounts to 200.8 Mkgs at an average of Rs 492 per kg as against 189.4 Mkgs at Rs 448 per kg for the corresponding period of last year. The export earnings from Tea in 2010 for the above period amounts to Rs 98.8 billion as against 84.9 billion in 2009.
There was good but irregular demand for the 8.2 Mkgs of Ex-estate teas on offer, opening at generally lower levels to last week and easing further as the sale progressed particularly for BOPF. Better Western BOPs on the other hand appreciated Rs 10 with the Below Best sorts also moving up by Rs 10 to Rs 15. The plainer varieties were Rs 5 to Rs 10 dearer. Nuwara Eliya BOPs were firm to dearer, whilst the BOPFs were irregularly firm. There was less demand for Uva BOP/BOPF, with price declines of Rs 10 to Rs 15 and more. There was less demand for low grown CTC PF1 on offer, whilst the high and Medium PF1 were firm to easier. Brokers continued to meet with good demand.
The 3.1 Mkg of Low Growns that came under the hammer this week, met with slightly less demand, particularly for the small leaf varieties.
Most Iranian buyers curtailed their purchases due to the ambiguity on Iranian authorities banning the imports of some agricultural products, although there is no reference to tea in the reports so far published in the media, the uncertainty kept most buyers on a low key. The main Iraq buyer too was rather quiet after many months of forceful buying. However the Russian buyers were rather active, while the main Saudi Arabian buyer too picked up a larger volume. The BOP1 grade which moved up sharply in last couple of weeks, declined several rupees and settled between Rs 500 to Rs 550. However the OP1 grade continued to obtain very attractive prices, while some wiry Ops too gained sharply. In the small leaf category FBOP/FF1s declined.
Western Teas
Select Best BOPs advanced Rs 10, other good invoices appreciated by a similar margin and more, Below Best sorts gained Rs 10 to Rs 15 on average, plainer varieties were irregularly dearer. A few Select Best BOPF were firm others declined Rs 10 to Rs 15 on average, Below Best sorts shed Rs 10 to Rs 15 and more, Plainer varieties declined Rs 15 to Rs 20 on average. Medium BOP/BOPF declined Rs 15 to Rs 20 on average.
Nuwara Eliya Teas
A few bright BOPs were firm, others declined Rs 5 to Rs 10 BOPF were irregularly firm.
Uva Teas
BOPs declined Rs 20 to Rs 30 and more, whilst the BOPF too were Rs 15 to Rs 20 easier. A few Select Best Udapussallawa BOPs gained Rs 10, others eased by a similar margin and more. BOPF declined Rs 10 on average.
CTC Teas
Low Grown CTC PF1s shed Rs 15 to Rs 20 and more. BP1s gained Rs 5 to Rs 10. High & Medium PF1s were firm to easier. BP1s gained Rs 15 to Rs 20 and more.
Low Growns
Lower demand. Select Best OP1s appreciated Rs 10 to Rs 15, Best types were fully firm, Below Best varieties were irregularly dearer by Rs 5 to Rs 10, poor sorts were steady.
Select Best along with the Best BOP1s declined sharply by Rs 10 to Rs 20, however Below Best and poor sorts maintained last levels. Select Best OPs eased Rs 5 to Rs 10, the balance too were lower by Rs 10 on average, wiry types appreciated Rs 5 to Rs 10 and more at times. Select Best OPAs shed Rs 10 to Rs 20, the balance too were lower by Rs 5 to Rs 10. Select Best Pekoes appreciated Rs 10 to Rs 20 and more following quality, however bold Pekoe varieties declined Rs 5 to Rs 10, flaky types too tended lower by Rs 10 to Rs 15.
Shotty Pekoe1s were fully firm, Best types too were firm on last levels, Below Best and poor sorts declined Rs 5 to Rs 10. Select Best and Best BOP/BOP. SPs declined Rs 10, Below Best and poor sorts too followed a similar trend. Select Best and Best FBOPs and FF1s declined Rs 15 to Rs 20, Below Best and poor sorts too were lower by a similar margin. Select Best and Best tippy varieties sold at fairly attractive levels but however prices were lower to last, Below Best and poor sorts too shed Rs 20 to Rs 30.
Off Grades
Select Best liquoring Fngs1s sold at firm levels while the Best and the Below Best were irregularly lower by Rs 10 to Rs 15, poorer sorts appreciated Rs 5. All BPs were lower by Rs 20. Select Best BMs declined Rs 20 to Rs 25 whilst the Best and the Below Best types were lower by Rs 15 to Rs 20, poorer sorts declined Rs 20.
All Low Grown Fngs were lower by Rs 10. Select Best BOP1As were lower to last by Rs 10 on average. Best and Below Best too were easier to last by Rs 10 to Rs 15 and more at times, whilst the Poorer sorts shed Rs 15 and more.
Dust
Lower demand. Select Best Dust1s were firm, others in the best and Below Best category declined Rs 15 to Rs 20 and more at times. Poorer sorts declined further. Clean secondaries shed Rs 20 to Rs 25 while the balance were firm. Best Low Grown Dust / Dust1s were firm while the balance eased Rs 15 to Rs 20.
Super Coffee launches Latte range
Targeting the young, trendy Sri Lankan consumers, Super Coffeemix Manufacturing Limited one of the Southeast Asian market leaders for 3-in-1 instant coffees, has introduced Super Coffee brand Latte into the Sri Lankan market.
The Super Coffee brand Latte, newly introduced to Sri Lanka, has an aroma and taste that is truly satisfying ,comes in an attractive sachet and design with contemporary colours to suit the image of modern and young adults.
The Super Coffee brand after many years of experience in the coffee business and providing millions of customers with their distinctive and approachable coffee, are now unleashing its Coffee brands to many markets , inspired by their belief that everyone deserves a great cup of coffee. They are determined to turn the traditional coffee model on its head with innovative new approaches in every phase of their business - in retail and packaged goods - and to take their premium coffee to the places their customers go in their everyday lives.
The Super Coffee brand Latte is currently available in Sri Lanka at most leading super markets across the island, including Keells Super, Arpico and Laugfs outlets.
source - www.dailynews.lk
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