Last week our tea story carried rupee earnings at 98.8 billion being actual figures indicated by Customs export results for the commodity end August this year. However weekend results ending last week, were that although todate averages were yet above last year receding averages have now begun to plague market conditions locally.
John Keels Holdings (JKH) Weekly Tea market report for tea sold at 5th /6th auctions this month, had this to say.
‘Sri Lanka Tea averages for the month of September 2010 at Rs. 376.39 has once again recorded a substantial negative variance of Rs. 54.92 ( 12.73 %) over the corresponding month 2009.’
Euphoria that existed in tea circles this year might yet be realized and that year end results would be on an upper level because of enhanced Winter buying at all buyer destinations, particularly Russia / CIS countries and the European market.
Last week 0.76 million kilos offered Ex – Estate did see good responses with BOPs selling at about Rs.400 per kilo, and BOPF at prices touching Rs. 500, were all features that dictated that all were not negative. Colombo is yet among the foremost auction centers for the commodity.
JKH also reported Nuwara Eliyas did see gains, but not at impressive levels as were Westerns.
Low growns continued to maintain good selling margins, with prices moving up to as much as averages of Rs. 600, per kilo.
World production results extracted from the Asia Siyaka Tea market report said most seller origins indicated plus variations with Kenya recording the highest volume quantum at 72.82 million kilos. Sri Lanka’s performance too recorded impressive enhanced returns at 38.76 million kilos; but last year was a poor year. North India, Bangladesh, and Indonesia, were the only producers indicating negative crop harvests.
Our Waltrim story last week recorded some inaccuracies which merit correction.
We said before Nationalisation of the Plantation sector, Waltrim was owned by the CTP Company. The Correction should read Standard Tea Company.
We trust we have effectively corrected the inaccuracy . We simultaneously thank our reading audience who informed us of this correction.
Ceylon Tea Brokers reported last week, that Japanese green tea consumption is gradually increasing. Black tea consumption meanwhile has not reduced, but green tea popularity, still in the niche market category, could affect black tea imports to Japanese end users .
Main speciality tea – producing regions in Japan are Uji, Shizuoka, and Kyushu.
Brokers said although green tea is gaining in popularity black tea imports may not be affected in the short term, but one for consideration subject to such demands growing.
Producer origin top sellers were Glentilt in Maskeliya, Matakelle, on the TRI border, Edinburgh in Nanu Oya, and Tymawr. Those were in the western Hills, of the Western Mediums, Harangala, Craighead, and Kenilworth were top sellers.
Although Uva prices were comparatively lower, Uve Highlands, and Aislaby in the Malwatta Valley, had good price returns. It was also pleasing to see Mahadowa in the Madulsima high lands recording good prices.
This week too 6.5 million kilos will be on offer at the auctions. Not a very impressive figure but Brokers say bad weather , that is too much rain, retarded growth.
source - www.island.lk
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