Last week Ex Estate sale comprising of 1.3 mkgs took a heavy toll with prices recording a sharp drop for both BOPs as well as BOPFs. With the exception of a few bright invoices from the Western sector, the quality on offer was average.
The reason for the sharp decline could be partly due to external factors such as the Middle East and the Japanese crisis along with the large crop intakes that are being recorded from all elevations.
Other than for a very few BOPs and BOPFs in the select Best Western High Grown category that sold well, all others declined Rs 15 to Rs 20 and more. The Below Best BOPs although lower to previous week was selling Rs 5 to Rs 10 more than its counter parts.
The plainer types however were mostly neglected. The Below Best and plainer BOPFs declined as much as Rs 20 to Rs 25 and more on average.
Brighter Nuwara Eliya teas continued to sell well with a few BOP invoices still touching the Rs 500 mark, whilst BOPFs declined from previous levels, but sold above most Western teas.
The Semi Leafy teas in this category continued to have good demand with prices over Rs 500 being registered. Uva BOPs and BOPFs followed a similar trend as the Westerns. Other than for the Best Low Grown PF1s that were firm, all others declined Rs 30 to Rs 40 with a large volume remaining unsold.
High and Medium types too declined Rs 15 to Rs 20. Russia was very selective, whilst the tea bag sector lent only fair support. UK, Japan and Continental buyers operated following quality.
The 3.5 Mkg of Low Growns that were on offer last week, met with lower demand with prices declining at times sharply.
In the Leafy category, Russian buyers operated fairly strongly however, the Middle Eastern buyers were rather selective, particularly Libya and Syria.
In the Small Leaf category too, prices declined as the sale progressed with most Iranian buyers being rather subdued.
The unrest in the Middle East has hampered the movement of teas, hence the lower demand. With last weeks Low Grown prices, the sale average is expected to drop below the Rs 400 level for the first time since the sale of February 2, 2011.
Western Teas
A few Select Best BOPs sold well on special inquiry, other Good invoices declined Rs 15 to Rs 20, Below Best sorts shed Rs 5 to Rs 10, plainer varieties eased Rs 10 on average. Select Best BOPFs declined Rs 30 to Rs 40, others good Invoices shed Rs 20 to Rs 30, Below Best sorts eased Rs 20 to Rs 25, whilst the plainer varieties shed Rs 15 to Rs 20 on average. Medium BOPs declined Rs 10 to Rs 15, whilst the BOPFs shed Rs 20 to Rs 25 and more on average.
Nuwara Eliya Teas
Brighter BOPs were firm to dearer, others declined Rs 10 to Rs 15 BOPFs shed Rs 25 to Rs 30 on average.
Uva Teas
BOPs eased Rs 10 to Rs 15,whilst the BOPFs shed Rs 15 to Rs 20. Udapussellawa BOP/BOPFs declined Rs 15 to Rs 20 and more.
CTC Teas
Select Best Low Grown CTC PF1s were firm, others declined Rs 30 to Rs 40 with a large volume remaining unsold. BP1s declined substantially. High and Medium PF1s shed Rs 15 to Rs 20 on average. BP1s gained Rs 10.
Low Growns
Lower demand. Select Best OP1s maintained last levels, however the balance shed Rs 10 to Rs 15. Select Best along with the Best BOP1s declined Rs 30 to Rs 40, Below Best and poor sorts too tended lower by Rs 10 to Rs 15.
Select Best OPs were firm to Rs 5 to Rs 10 dearer, however the Best and Below Best types shed Rs 10 on average, poor types were lower by Rs 5 to Rs 10.
Select Best OPAs were irregularly dearer by Rs 5 to Rs 10, however the balance declined Rs 5 to Rs 10. Select Best Pekoes eased Rs 20 to Rs 40, Best and Below Best types were lower by Rs 5 to Rs 10, flaky types too were lower by a similar margin.
Shotty Pekoe1s eased Rs 20 to Rs 40 and more following quality, the balance declined Rs 5 to Rs 10. Select Best and Best BOP/BOP.SPs shed Rs 20 and at times more towards the latter part of the sale, Below Best types followed a similar trend, poorer sorts were lower by Rs 10 to Rs 15.
Select Best and Best FBOP/FF1s shed Rs 20 and more towards the latter part of the sale and at times remained unsold due to lack of demand, Below Best and poor sorts too followed a similar trend.
Select Best Tippy varieties declined sharply towards the latter part of the sale, Below Best and poorer sorts too were much lower to last.
Off Grades
Select Best and Best liquoring Fngs1s depreciated Rs 10 to Rs 15, whilst the Best and Below Best types were lower by Rs 10.
Select Best and Best BMs declined Rs 10 to Rs 15, whilst the poorer sorts met with good demand and sold at firm levels . All BPs were lower by Rs 10 All Low Grown Fngs sold at firm levels.
Select Best BOP1As along with the Best shed Rs 5 to Rs 10 and more at times, whilst the Below Best sold at last levels, poorer sorts however gained Rs 5 on average.
Dust
Select Best Dust1s were firm, whilst the Best and Below Best types declined Rs 15 to Rs 20, poorer sorts declined further.
All secondary Dusts were firm. Best Low Grown Dusts / Dust1s were firm whilst the balance were irregular.
source - www.dailynews.lk
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