Sri Lankan Tea Sale Averages for the month of February which has just been released, shows positive variances for the month as well as todate compared to the corresponding period of 2010.
The total National Average for February 2011 at Rs 393.67 is Rs 13.31 above 2010, and Rs 8.93 to date.
Significant gains have been recorded from High Grown (4.94 percent) followed by (3.50 percent) from the Low Growns.
Medium Grown on the other hand has recorded a marginal increase of 1.24 percent for February.
As expected January Tea Crop of 20.6 Mkgs recorded a 23 percent drop compared to the 26.8 Mkgs the previous year. February Crop too is likely to fall short of last year due to the inclement weather experienced during the month.
The 0.9 mkgs. of Ex Estate teas on offer met with lower demand with fair weight remaining unsold.
A few improved select Best BOPs sold well appreciating in value, whilst the others were barely steady.
BOPFs too which were Rs 5 to Rs 10 easier at the commencement declined further as the sale progressed with a number of invoices being difficult of sale.
The few Nuwara Eliya invoices of BOP and BOPFs appreciated by Rs 10 to Rs 15. Uva BOPs were irregularly dearer following quality, whilst BOPFs were lower. Except for a few Select Best Low Grown CTC PF1s that were mostly firm, others along with the Below Best declined Rs 15 to Rs 20 and more. High and Medium PF1s were lower, but to a lesser extent.
The tea bag sector was somewhat selective whilst Russia was mostly quiet. UK, Japan and Continental buyers were active following quality.
The 3.2 mkgs of Low Growns that were on offer this week, met with good demand but at lower levels. The turmoil in the Middle East had an impact at the Colombo Auctions this week with most overseas buyers requesting to go slow with the shipments and also with the impending Iranian New Year, activities in this market too slows down. Unless the unrest settles down soon, we could see a further decline in prices.
The weather continues to be very dry with very hot days which has brought about a reduction in crop intakes.
Western Teas
A few Select Best BOPs sold well on special inquiry, other good invoices were barely steady, Below Best and plainer sorts advanced Rs 5 but eased as the sale progressed.
Select Best BOPFs advanced Rs 10 to Rs 15 following special inquiry, other good invoices declined Rs 10, Below Best sorts shed Rs 5 to Rs 10 as the sale progressed, plainer varieties were firm to easier. Medium BOPs declined Rs 5 to Rs 10, whilst BOPFs eased Rs 10 to Rs 15 on average.
Nuwara Eliya Teas
Brighter BOPs advanced Rs .10, whilst others gained Rs 15 to Rs 20. BOPFs advanced Rs 10 to Rs 15 on average.
Uva Teas
BOPs advanced Rs 5 to Rs 10, whilst BOPFs declined by a similar margin. Uda Pussellawa BOPs advanced Rs 10 to Rs 15, whilst BOPFs shed Rs 5 to Rs 10.
CTC Teas
A few Select Best Low Grown PF1s were firm, others were Rs 15 to Rs 25 lower. BP1s were firm to irregular.
High and Medium PF1/BP1s declined Rs 5 to Rs 10 as the sale progressed.
Low Growns
Lower demand. Select Best OP1s eased Rs 10 to Rs 20, Best types maintained last levels, Below Best and poor sorts declined Rs 5 to Rs 10. Select Best and Best BOP1s shed Rs 10 to Rs 20, Below Best and poor sorts were irregularly lower by Rs 5 to Rs 10. Select Best along with the Best OPs eased Rs 10 on average, Below Best and poor sorts too were lower by a similar margin.
Select Best OPAs declined Rs 10 to Rs 20 and more following quality, the balance eased Rs 5 to Rs 10.
Select Best Pekoes were lower by Rs.30/- to Rs 50, Best and Below Best types tended lower by Rs 10 to Rs 15, flaky types too were lower by Rs 5 to Rs 10. Shotty Pekoe1s were firm to Rs 5 to Rs 10 dearer at times, Below Best and poor sorts eased Rs 5 to Rs 10.
Select Best and Best BOP/SP eased Rs 5 to Rs 10, Below Best and poorer sorts too declined by a similar margin.
Select Best and Best FBOPs shed Rs 5 to Rs 10, Below Best and poorer sorts were lower by a similar margin.
Select Best and Best FBOPF1s were lower by Rs 10 per kg, Below Best and poorer sorts were lower by Rs 5 to Rs 10. Select Best and Best Tippy varieties declined substantially on last levels, Below Best and poorer sorts too were lower to last.
Off Grades
Select Best and Best liquoring Fngs1s depreciated Rs 10, Below Best and poorer sorts eased by Rs 10 to Rs 15. Select Best and Best BMs were firm to dearer by Rs 10, Below Best and poorer sorts appreciated Rs 10 to Rs 15.
All BPs appreciated Rs 10. All Low Grown Fngs were dearer by Rs 15 to Rs 20 Select Best BOP1As were to dearer by Rs 5 to Rs 10, Best and Below Best too were firm to dearer by Rs 5 on average, poorer sorts were firm on last levels.
Dust
Select Best Dust1s were firm, whilst balance along with the poorer sorts declined Rs 20 to Rs 25. Clean secondaries shed Rs 15 to Rs 20, whilst the Below Best types declined further, poorer sorts were firm. Best Low Grown Dust/Dust1s declined Rs 5, whilst the balance gained Rs 10 to Rs 15.
source - www.dailynews.lk
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