Bidding frenzy for BOP and BOPF grades
The markets during the December sales was expected to be quiet, given the balanced supply and demand situation around the world, and as the demand from CIS markets was expected to improve only in January.
However, what transpired at the Ex Estate sale for High Grown, and Medium grown teas was totally the opposite.
There was a frenzy of bidding for both BOP and BOPF grades, with the market improving at all levels. Christmas cheer and a festive mood prevailed in the auction room.
Some of the BOPs advanced by over Rs 50 and others by a lesser amount. BOPF increased by Rs 5 to 15.
There appeared very strong buying for Russia, whilst activity from UK and Japan was also evident.
The Low Grown market commenced steady, with certain grades slightly dearer. However, here too, the market improved as the sale progressed and this week’s average can be expected to have improved several rupees.
Dusts and Off grades added to the joy of the producer, with a gradual improvement in prices.
The 3.4 mkg of Low Growns that were on offer met with fairly good demand.
The better BOP1/OP1s gained Rs 5 to Rs 10, however the balance shed by a similar margin. Better OP/OPAs and Pekoes too were dearer at times, however the balance declined Rs 5 to Rs 10.
There was slightly better demand for the small leaf varieties, particularly at the bottom end prices moved up Rs 5 to Rs 10. The better FBOP/FF1s were firm however the good Tippy varieties eased a few rupees on last levels. Russia, Iran and Saudi Arabia lent useful support.
Western Teas
Select Best BOPs advanced Rs 5 to Rs 10, Other Good Invoices gained Rs 15 to Rs 20, Below Best and plainer varieties advanced sharply by Rs 20 to Rs 30 and more as the sale progressed. Select Best BOPFs declined Rs 5 to Rs 10,Other Good Invoices were firm, Below Best sorts were firm to Rs 5 dearer, plainer varieties gained Rs 5 to Rs 10 on average. Medium BOPs advanced Rs 15 to Rs 20, whilst the BOPFs gained Rs 5 to Rs 10.
Nuwara Eliya Teas
Brighter BOPs declined Rs 10 to Rs 15 Others were firm. BOPFs advanced Rs 5 to Rs 10 and more.
Uva Teas
BOPs advanced Rs 10 to Rs 15. BOPFs gained Rs 5 to Rs 10.
Udapussellawa BOPs gained Rs 20 to Rs 30, whilst the BOPFs were Rs 5 to Rs 10 dearer.
CTC Teas
Low Grown PF1s advanced Rs 10 to Rs 15. BP1s were firm. High and Medium PF1s gained Rs 5 to Rs 10 and more. BP1s gained Rs 10.
Low Growns
Good demand. Select Best OP1s appreciated Rs 10 to Rs 20, Best types were firm to Rs 5 to Rs 10 lower following quality, Below Best and poor sorts maintained last levels.
Select Best BOP1s gained Rs 10 to Rs 15, Best types were steady, however the Below Best varieties tended lower by Rs 5 to Rs 10 , poor sorts were irregularly lower by a similar margin. Select Best OP/OPAs advanced Rs 5 to Rs 10, the Best and Below Best types were steady during the early part of the sale, however advanced Rs 5 to Rs 10, as the sale progressed, poor types were firm. Select Best Pekoes were firm to Rs 5 to Rs 10 dearer at times, the best types were irregularly lower by a similar margin, Below Best bold Pekoe varieties were advanced by Rs 5 to Rs 10, flaky types were firm.
Shotty Pekoe1s eased Rs 5 to Rs 10, Best types too tended lower by Rs 10 to Rs 15, Below Best and poor sorts maintained last levels. Select Best BOP advanced Rs 5, Best and Below Best types were firm, poorer sorts advanced Rs 5 to Rs 8. Select Best BOP.SPs shed Rs 5 to Rs 10, Best and Below Best types too were lower by a similar margin, poorer types were barely steady.
Select Best FBOPs maintained last levels, Best types moved up Rs 5, Below Best types were lower by Rs 5 to Rs 8, poorer types advanced Rs 10.
Select Best and Best FBOPF1s were firm, Below Best types shed Rs 5, poorer types advanced Rs 5 to Rs 10 Select Best tippy varieties met with good demand but tended a little irregular towards last, Best and Below Best followed a similar trend, poorer sorts were lower by Rs 5 to Rs 10.
Off Grades
Select Best liquoring Fngs1s were dearer by Rs 5, whilst the Best and the Below Best types appreciated Rs 5 Rs 10, poorer sorts were dearer by Rs 5. Select Best and Best BMs were firm to dearer by Rs 5, Below Best types and poorer sorts appreciated Rs 30 to Rs 40 and more at times. All BPs were dearer by Rs 5 to Rs 10.
All Low Grown Fngs appreciated Rs 20. Select Best BOP1As were firm to irregularly dearer by Rs 5 to Rs 10, whilst the Best and the Below Best too appreciated by Rs 10 to Rs 20, poorer sorts too were dearer by an average of Rs 25 and more at times.
Dust
Select Best Dust1s declined Rs 5 to Rs 10, others in the Best and Below Best category appreciated Rs 10 to Rs 20, whilst the balance gained Rs 5 to Rs 10. All secondaries Dusts appreciated Rs 10 to Rs 15 whilst All Low Grown Dust/Dust1s gained Rs 10 to Rs 15.
source - www.dailynews.lk
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