Although crop levels in most planting districts particularly from the Western Sector reported a drop this week, the factories are still operating at almost full capacity. It is reported that rains too have subsided giving way to bright and hot weather which is rather unusual for the time of the year.
Production in most black tea producing countries continue to record peak levels with Kenya in particular recording a positive gain of 63.4 mkgs to end April compared to the corresponding period of last year. Sri Lankan crop increase, for the above period amounts to approximately 23 mkgs. Global Black Tea production to end April is over 100 mkgs.
Black Tea |
There was slightly better demand for the 1.48 mkgs of Ex-Estate teas on offer at today's sale. The market commenced firm to Rs 5 to Rs 10 dearer for both BOP/BOPF which strengthened as the sale progressed being Rs 20 to Rs 25 dearer towards the conclusion of the sale.
The gap between the best on offer, widened against the below best and plainer varieties mostly on account of the dry leaf appearance.
Low Grown CTC PF1s which was firm to a little easier at the start, appreciated towards the end. The High and Medium types were Rs 10 to Rs 15 dearer on average.
An irregularly lower market could be expected to prevail at next week's Ex-Estate sale comprising of 1.5 Mkgs as quality is much lower compared to what we have seen in recent auctions.
The 3.8 Mkgs of Low Growns that came under the hammer this week met with improved demand when compared with the previous week.
The wiry OP1s advanced in value, whilst the well made FBOP/FF1s and the Tippy varieties too met with more inquiry and realized improved prices.
Taking into account the quality that was on offer this week, prices realized could be considered quite satisfactory. For the first time this year the weekly Low Grown sale average for the sale of May 24, 2010 dropped below that of the corresponding sale in 2009.
The main Saudi Arabian buyer was rather subdued however, Russia, Iraq, Syria, Iran and Dubai lent useful support.
Western Teas
Select Best BOPs were firm to Rs 10 dearer, other good invoices were firm to dearer, Below best sorts gained Rs 10 and more as the sale progressed. Plainer varieties advanced Rs 5 to Rs 10 on average. Select Best BOPFs gained Rs 5 to Rs 10 and more at times, other good invoices advanced Rs 10 to Rs 15 and more as the sale progressed, Below Best sorts were firm on last weeks closing levels and gained Rs 10 as the sale progressed. Plainer varieties advanced Rs 5 to Rs 10 on average. Select Best Medium BOPs declined Rs 15 to Rs 20, others were irregularly dearer. BOPFs gained Rs 10 to Rs 15 on average.
Nuwara Eliya Teas
BOPs were firm to Rs 10 dearer. BOPFs advanced Rs 10 to Rs 15 on average.
Uva Teas
BOPs were firm to Rs 10 dearer. BOPFs appreciated Rs 10 to Rs 15 on average. Udapussellawa BOPs advanced Rs 15 to Rs 20, whilst BOPFs gained Rs 10 to Rs 15 on average.
CTC Teas
Select Best Low Grown PF1s were easier at the commencement and advanced as the sale progressed, others appreciated Rs 5 to Rs 10 and more. BP1s were firm to dearer. High and Medium PF1s gained Rs 15 to Rs 20, whilst BP1s were Rs 5 to Rs 10 dearer.
Low Growns
Lower demand. Select Best OP1s were firm to dearer by Rs 5 to Rs 10, the Best types were irregularly dearer by Rs 10 to Rs 15, however, the Below Best and poor types were lower by Rs 10 to Rs 15 following quality.
Select Best BOP1s shed Rs 10 to Rs 20, balance too were lower by a similar margin. Select Best along with the Best OPs were firm to Rs 3 to Rs 5 lower at times, the Below Best and poor sorts declined Rs 5 to Rs 10. Select Best OPAs were steady, however Best types declined Rs 10 to Rs 15, Below Best and poor sorts too were lower by Rs 5 to Rs 10 and more at times. Select Best Pekoes appreciated Rs 10 to Rs 15, however, the balance declined Rs 10 on average. Shotty Pekoe1s gained Rs 10 to Rs 20, however Best and Below Best types eased Rs 10 to Rs 15, poor types too tended lower by a similar margin.
A few Select Best BOPs maintained last levels, however the Best and Below Best types declined Rs 10, whilst the poorer types were lower by Rs 10 to Rs 20 and at times remained difficult of sale.
A few Select Best BOP.SP were firm but the balance and the Best types eased Rs 5 to Rs 10, Below Best and poorer types too shed by a similar margin. A few Select Best FBOPs met with good demand and advanced Rs 10 per kg and at times more, however the balance as well as the Best types shed Rs 10 to Rs 15, Below Best types also lower by Rs 10 to Rs 20 and at times remained unsold, poorer types too were lower by Rs 20.
Select Best FBOPF1s were firm to dearer at times, however Best and Below Best types were lower by Rs 10 to Rs 15, poorer types too shed by a similar margin and at times remained difficult of sale. Select Best Tippy varieties met with good demand and at times advanced above last levels, Best types were firm, however Below Best and poorer types shed Rs 20 to Rs 30 and at times remained unsold.
Off Grades
Select Best liquoring Fngs1s appreciated Rs 10 to Rs 15, Below Best and Best advanced by Rs 5 to Rs 10 and more at times, poorer sorts appreciated Rs 5 to Rs 10. Select Best BMs were easier to last by Rs 10, whereas Best, Below Best and poorer sorts were lower by Rs 20.
All clean Low Grown Fngs were firm to dearer by Rs 5 to Rs 10, others depreciated Rs 10. All BPs met with good demand. Select Best and Best BOP1As were lower to last by Rs 10 to Rs 15, whilst the Below Best and others were easier by an average of Rs 15 and more at times.
Dust
Good demand. Select Best Dust1s gained Rs 10 to Rs 15, whilst others in the Best and Below Best category advanced sharply by Rs 40 to Rs 45. Clean secondaries gained Rs 20 to Rs 25, whilst the Below Best types gained Rs 10 to Rs 15, poorer sorts were firm. Best Low Grown Dust/dust1s appreciated Rs 15 to Rs 20, Below Best types were dearer by Rs 10 to Rs 15, whilst the poorer sorts declined Rs 5 to Rs 10.
source - www.dailynews.lk
