Sri Lanka tea crop for June 2011 at 28.7 mkgs registers a drop of 2.4 mkgs compared to the corresponding month of 2010. While High Grown has recorded a 7 percent increase both Medium and Low have recorded negative variances of 14 percent and 12 percent respectively.
Despite the shortfall for the month Sri Lanka's Tea Crop continues to maintain a 0.61 percent todate increase over last year.
On the Global front Kenya, Malawi, South India, Uganda and Indonesia have all recorded crop deficits whilst the North Indian crop to end May has recorded a surplus of 11.2 mkgs.
Kenya which has recorded a negative variance of 33.6 mkgs to end May is not likely to reverse this trend due to the extremely dry weather conditions prevailing in Africa.
If the dry weather persists we are likely to see a crop short fall from East African tea growing countries.
Last Week's ex Estate market comprising of 1.5 mkgs met with fair demand. Select Best Western High Grown BOP and BOPFs sold well appreciating Rs 10 to Rs 15 and more at times, whilst the Below Best BOPs were firm to irregular, BOPFs were firm to dearer.
Plainer BOPs were barely steady, whilst BOPFs were mostly firm. The BOPFs grade in general still maintains a price gap of Rs 20 to Rs 30 over its counter parts. Nuwara Eliya BOPs and BOPFs were barely maintained with most invoices declining Rs 10 to Rs 15. Uva's were irregular following quality, however a few semi leafy teas sold well.
Low Grown CTC PF1s were mostly firm, whilst High and Medium types were firm to irregular following quality.
There was fair demand from Russia and the tea bag sector whilst UK, Japan and Continental buyers were selective.
The 3.6 mkg of Low Grown teas that came under the hammer last week met with good demand. Select best BOP1/OP1s appreciated sharply.
There was also more interest for the small leaf, particularly for the very tippy flowery grades, FBOPs and FBOPF1s.
All in all last week's sale could be considered quite satisfactory as far as prices were concerned.
Western Teas
A few Select Best BOPs advanced Rs 10 to Rs 15, other good invoices were barely steady, Below Best types were firm to Rs 5 dearer, plainer varieties were irregularly dearer. Select Best BOPFs advanced Rs 5 to Rs 10, other good invoices were firm, Below Best sorts were firm to irregular, plainer varieties maintained last levels. Medium BOPs advanced Rs 15 to Rs 20. BOPFs gained Rs 5 to Rs 10.
Nuwara Eliya Teas
Bright BOPs gained Rs 10 to Rs 15, others eased Rs 5 to Rs 10. BOPFs gained Rs 5 to Rs 10 on average.
Uva Teas
Coloury BOPs advanced Rs 5 to Rs 10, others were firm to irregular. BOPFs declined Rs 10 on average. Uda Pussellawa BOPs were firm. BOPFs declined Rs 15 to Rs 20 on average.
CTC Teas
Select Best Low Grown PF1s were firm, others declined Rs 10. BP1s were firm to Rs 5 lower. High and Medium PF1s were firm to Rs 10 easier. BP1s maintained.
Low Growns
Lower demand. Select Best OP1s shed Rs 5 to Rs 10, Clean Best varieties were firm on last levels, however the balance were lower by Rs 5 to Rs 10, Below Best and poor types especially the stalky varieties declined Rs 10 to Rs 15.
Select Best along with the Best BOP1s shed Rs 10 to Rs 20, Below Best and poor sorts were mainly firm.
Select Best OP/OPAs were firm to last levels, however, the Best types were lower by Rs 10 to Rs 15, Below Best and poor sorts were irregularly lower by Rs 5 to Rs 10. Select Best Pekoes shed Rs 20 to Rs 30, the balance were steady. Select Best Pekoe1s eased Rs 20 to Rs 40, Best types too were irregularly lower by Rs 10 to Rs 15, Below Best and poor sorts were firm, however the tippy varieties met with Good Demand. Select Best and Best BOP/BOP.SPs maintained last levels, Below Best and poorer sorts were marginally lower to last.
Select Best and Best FBOPs were firm, Below Best types moved up Rs 5 to Rs 10, poorer types were firm.
Select Best and Best FBOPF1s advanced Rs 10 and at times more, Below Best sorts were firm, poorer sorts were irregular. Select Best tippy sorts met with good demand and sold above last levels, Below Best and poorer types were lower to last.
Off Grades
Select Best and Best liquoring Fngs1 were lower to Rs 10 to Rs 15, whilst the Below Best and poorer sorts were irregular lower by Rs 10.
Select Best and Best BMs were dearer by Rs 10, whilst the Below Best and poorer sorts sold at firm levels.
All BPs appreciated Rs 10. All Low Grown Fngs depreciated Rs 10 to Rs 15 and more at times.
All BPs sold at firm levels. Select Best BOP1As were firm to dearer by Rs 5 to Rs 10 whilst Best were barely steady, Below Best and poorer sorts declined Rs 10 to Rs 15 and more at times.
Dust
Select Best Dust1s declined Rs 5 to Rs 10, whilst the Best and Below Best types appreciated Rs 15 to Rs 20, the poorer sorts too appreciated Rs 5 to Rs 10 Clean secondaries gained Rs 10 to Rs 15, whilst the Below Best types declined Rs 5 to Rs 10, poorer sorts appreciated by a similar margin. All Low Grown Dust/Dust1s eased Rs 5 to Rs 10.
source - www.dailynews.lk
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