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Tuesday, December 28, 2010

John Keells Tea Market Report: Excellent demand for Low Growns

The 1.2 mkgs of Ex-estate teas on offer met with fair demand. Western High Grown BOPs were Rs 10 to Rs 15 lower whilst BOPFs were firm to a little dearer for the plainer invoices and Rs 5 to Rs 15 lower for the rest. Nuwara Eliya BOPs were much lower with a fair weight selling below Rs 300 which on average was Rs 20 to Rs 30 easier than the previous weeks prices. BOPFs however maintained for the brighter teas whilst others lost Rs 5 to Rs 10 Uva BOP and BOPFs too declined Rs 10 to Rs 15 on average.

The top end of the Low Grown CTC PF1s was somewhat easier whilst others were firm to a little dearer. High and Medium types that were firm at the commencement declined a few rupees as the sale progressed.

The tea bag sector and Russia lent good support, whilst UK, Japan and Continental buyers too were active following quality.

The 3.3 mkgs of Low Growns on offer at the final sale of the year met with excellent demand. In the leafy category BOP1s led the way with an invoice of Sithaka BOP1 establishing an All Time Record Price of Rs.770 per kg. surpassing the previous best of Rs 740 established by the same tea factory in the previous week.

Top end of the OP1s sold around Rs 600 levels. Pekoes too met with excellent demand with prices appreciating as the sale progressed. OP and OPAs were mainly firm. In the small leaf category FBOP and FBOPF1s continued its bullish trend with prices appreciating a few Rupees.

Tippy varieties too appreciated in value.

In the absence of an auction in the final week of the year, it was evident that most buyers were looking to finalize the contracts in hand.

There was excellent demand from Russia, Iran, Iraq, whilst Dubai, Jordon, Saudi Arabia, Libya, Syria and other Middle Eastern countries also lent useful support.

Western Teas

Select Best BOPs shed Rs 10 to Rs 15, other good invoices declined Rs 10, Below Best sorts were firm to Rs 5 easier, plainer varieties declined Rs 5 to Rs 10. Select Best BOPF eased Rs. 10 to Rs 15, other good invoices shed Rs 10, Below Best sorts declined Rs 5 to Rs 10, plainer varieties were firm to Rs 5 dearer. Medium BOPs were firm. BOPF shed Rs 5 to Rs 10.

Nuwara Eliya Teas

BOPs declined Rs 20 to Rs 30, while the BOPF were firm to Rs 10 easier.

Uva Teas

BOPs declined Rs 10 to Rs 15, BOPF too shed Rs 15 to Rs 20 on average. Udapussellawa BOPs declined Rs 15 to Rs 20, BOPF shed Rs 10 to Rs 15 on average.

CTC Teas

Select Best Low Grown PF1s declined Rs 10 to Rs 15 whilst the others were firm to marginally dearer. BP1s gained Rs 15 to Rs 20. High and Medium PF1s shed Rs 5 to Rs 10 as the sale progressed. BP1s declined Rs 10 to Rs 15 on average.

Low Growns

Fair demand. Select Best OP1s eased Rs 10 to Rs 20 and more at times, Best types too were lower by a similar margin, Below Best and poor sorts were irregularly lower by Rs 5 to Rs 10. Select Best BOP1s appreciated Rs 10 to Rs 20, Best types were steady, however Below Best and poor sorts tended lower by Rs 5 to Rs 10. Select Best OPAs eased Rs 10 on average, the balance were firm to Rs 5 to Rs 10 lower.

Select Best OPs shed Rs 10 to Rs 20, Best types were firm on last levels, Below Best and poor sorts were irregularly lower by Rs 5 to Rs 10 Select Best Pekoes were firm to dearer, the Best along with the Below Best types were irregularly dearer by Rs 10 to Rs 15, flaky types declined Rs 5 to Rs 10.

Select Best Pekoe1s were irregularly lower by Rs 5 to Rs 10, however the Best types advanced sharply by Rs 10 to Rs 20, Below Best and poor sorts were irregularly dearer by Rs 5 to Rs 10.

Select Best and Best BOP and BOP.SP advanced Rs 5 per Kg., Below Best types were firm, poor types too were steady.

Select Best and Best FBOPs advanced Rs 10 to Rs 20, Below Best types gained Rs 10 to Rs 15. Poorer types gained up Rs 5. Select Best and Best FF1s advanced Rs 5 to Rs 10, Below Best and poor sorts were firm.

Select Best Tippy varieties met with good demand and advanced on last levels, Best types too gained above last, Below Best and poorer types advanced Rs 15 to Rs 30.

Off Grades

Select Best liquoring FNGS1s sold at firm levels, whilst the Best and the Below Best types appreciated Rs 5 to Rs 10, poorer sorts were dearer by Rs 10.

Select Best BMs were lower by Rs 10, Best and the Below Best types were irregularly dearer by Rs 10, poorer sorts appreciated Rs 10 and more at times.

Select Best BPs met with good demand whilst the poorer sorts depreciated by Rs 20 and more at times.

All Low Grown FNGS appreciated Rs 10. Select Best BOP1As were lower to last by Rs 10 to Rs 15, Best and Below Best too followed a similar trend easing by Rs 5 to Rs 10, Poorer sorts too were lower by Rs 5 to Rs 10 and more at times.

Dust

Select Best Dust1s were firm, others in the Best and Below Best category declined Rs 10 to Rs 15 while the poorer sorts declined further. Clean secondaries shed Rs 5 to Rs 10 while the balance advanced by a similar margin.

Best Low Grown Dust and Dust1s eased Rs 5 to Rs 10 while the balance were irregularly lower.

source - www.dailynews.lk