Kenya has recorded a significant crop increase of 27 percent over 2009, to end the season at 399 mkgs. where as Sri Lanka registered a 13.67 percent to reach 329.3 mkgs.
Boosted by the high production and fairly strong demand during the year, export earnings too are at an all time high. Kenya tea export earnings in 2010 overtook horticulture as the leading export earner.
Kenya is the world’s leading exporter of black tea.
Sri Lanka’s production of 329.4 mkgs in 2010 comprises 59.11 percent from the Low Growns followed by 23.77 percent from High and 16.82 percent from Medium Grown.
Today’s 1.3 mkgs of Ex Estate teas on offer met with fair demand with prices for BOPFs being firm to Rs 5 to Rs 10 dearer at the commencement, however ended up more or less firm towards the later part of the sale. BOPs on the other hand which were firm to irregular, declined Rs 5 to Rs 10 towards the end.
A few bright Nuwara Eliya BOPs appreciated substantially, others were mostly firm. BOPFs too were irregular following quality.
The Uva BOPs were mostly firm, whilst BOPFs appreciated Rs 5 to Rs 10.
Low Grown PF1s declined Rs 20 to Rs 25, whilst High and Medium types shed but to a lesser extent. There was fair demand from the tea bag sector, whilst Russia was selective. UK, Japan and Continental buyers operated following quality.
The 3.6 mkg of Low Growns that were on offer this week, met with excellent demand. In the Leafy category, OP/OPAs advanced sharply. Pekoes too met with widespread demand with prices appreciating.
BOP1/OP1s too maintained previous levels. Although the Small Leaf started at fully firm levels, prices could not be sustained and declined as the sale progressed, particularly for Tippy varieties and FBOPs. However, the price levels are still quite attractive.
The main Russian buyers were very forceful, whilst Middle East too bid strongly. The sale of 8/9 February that closed last week saw the volumes on offer dropping to 6.1 mkg which is around 1.4 mkg lower than the previous week.
The sale of 14th February scheduled to close this Friday, is a one day auction with restricted volumes.
Here too the quantity on offer will decline to around 5.5 mkgs. The strong demand witnessed this week could primarily be due to the lower volumes on offer in the ensuing weeks.
Western Teas
A few Select Best BOPs advanced following special inquiry, other good invoices were barely steady, Below Best sorts eased Rs 5 and more, plainer varieties shed Rs 5 to Rs 10 on average. Select Best BOPFs were barely steady, other good invoices shed Rs 5 to Rs 10 following quality, Below Best sorts advanced Rs 5, plainer varieties were Rs 5 to Rs 10 dearer. Medium BOPs declined substantially, whilst BOPFs were irregularly dearer.
Nuwara Eliya Teas
A few bright BOPs advanced following special inquiry, others were firm. BOPFs were firm to Rs 5 easier.
Uva Teas
BOPs declined Rs 5 to Rs 10, whilst BOPFs were firm. Uda Pussellawa BOPs were firm to marginally easier. BOPFs gained Rs 5 to Rs 10.
CTC Teas
Low Grown PF1 declined Rs 20. BP1s were firm to Rs 5 dearer. High and Medium PF1s shed Rs 5 to Rs 10. BP1s were firm to irregular.
Low Growns
Good demand. Select Best OP1s appreciated Rs 20 to Rs 30, Best OP1s were irregularly dearer by Rs 5 to Rs 10, Clean Below Best varieties too gained Rs 10 to Rs 15, however stalky invoices were neglected.
Select Best along with the Best BOP1s were firm to Rs 10 to Rs 15 dearer, Below Best and poor sorts were firm.
Select Best OPs shed Rs 10 to Rs 20, however the Best varieties appreciated Rs 10 to Rs 15, Below Best and poor sorts were mainly firm.
Select Best OPAs maintained last levels, Best types gained Rs 10 on average, Below Best and poor sorts were firm to Rs 3 to Rs 5 lower at times.
Select Best Pekoes advanced Rs 10 to Rs 20, Best types were steady, bold Pekoe varieties were irregularly dearer by Rs 5 to Rs 10, flaky types too maintained last levels.
Select Best Pekoe1s advanced Rs 20 to Rs 30, however the balance were firm on last levels. Select Best BOP/SP were firm to dearer at times, Below Best types maintained last levels, poorer types too were firm. Select Best and Best FBOPs were firm, however Below Best types and poorer sorts eased Rs 6 to Rs 8. Select Best and Best FBOPF1s maintained last levels, however Below Best and poorer sorts were lower by Rs 5 to Rs 8.
Select Best Tippy varieties advanced a few Rupees above last, Best types were firm, Below Best and poorer sorts were slightly lower to last.
Off Grades
Select Best and Best liquoring Fngs 1s were firm to dearer by Rs 5 to Rs 10, Below Best and poorer sorts sold at firm levels at the start of the sale, whilst appreciated at the end of the sale. Select Best and Best BMs were dearer by Rs 10, whilst the Below Best and poorer sorts appreciated Rs 10 to Rs 15. All Low Grown Fngs appreciated Rs 10. All BPs were irregularly dearer by Rs 10. Select Best BOP1As were firm to dearer by Rs 10 to Rs 15 and more at times with good demand, Best and Below Best BOP1As too were dearer by similar margin, poorer types however, were lower to last by Rs 5 on average.
Dust
Select Best Dust1s along with the Best and Below Best types were firm, poorer sorts declined Rs 5 to Rs 10. Clean secondaries were firm, whilst the balance appreciated Rs 5 to Rs 10. Best Low Grown Dust/Dust1s gained Rs 5 to Rs 10 and more at times, whilst the balance were irregularly dearer.
source - www.dailynews.lk
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