Saturday, January 12, 2013
Good demand for tea
This week a total of 7 M/kgs came under the hammer. There was good demand.
Ex-Estate offerings totalled 1.4M/kgs.
The overall quality of teas from the Western and Nuwara Eliya planting districts had been irregular, whilst teas from the Uva/Udapussellawa regions had been mostly similar to last.
Here again, there was good demand, particularly, for the BOPF's which appreciated by an average of Rs.10 per kg.
The BOP's declined by a similar margin and more particularly, for the poorer types. Consequently, the price parity between these two grades had widened further, with the BOPF's securing a premium of Rs.60 - 80 per kg in most instances. CTC teas continued to sell well and here again, the PF1's which were more sought after appreciated in value, whilst the others were neglected.
There was strong buying evident by Shippers to the CIS, Pakistan, South Africa and Japan, whilst UK and the Continent appeared selective.
Low Growns comprised of approximately 3.3 M kgs in the Tippy/Leafy catalogue this week.
There was a good general demand. In the Tippy catalogue, better FBOP/FF1's together with cleaner secondaries, were fully firm to selectively dearer. Others were irregular following quality.
A fair cross section of Tippy grades too, met with good demand and were fully firm to selectively dearer. In the Leafy catalogue, BOP1/OP1 sold at fully firm to dearer rates. Others however that did not maintain, declined.
High priced OP/OPA's were barely steady. Others were fully firm to dearer. PEK/PEK1 too were fully firm to dearer. Shippers to CIS, Dubai, Saudi Arabia, Iraq, Kuwait, together with Turkey were active this week.
source - www.dailynews.lk