Forbes & Walker’s weekly tea auction report Offerings increase and enjoy good demand

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By 2017-10-13

Forbes & Walker's weekly tea auction report indicated that the week's auction offerings showed an increase and totalled a 6.3M/kgs vis-à-vis a 5.9M/kgs on offer the previous week. Once again, there was good demand.

Ex-Estate offerings showed no change and totalled 0.7M/kgs. The quality of offerings was mostly similar to last. Best Western BOP/BOPF were often Rs 10-20 per kg dearer. In the below-best category, prices for BOP's were irregular, while corresponding BOPF with plainer BOP/BOPF were most often Rs 10-20 per kg dearer. Nuwara Eliyas sold around last whilst Uva/Udapussellawas were firm and Rs 10-20 per kg dearer, mostly for the BOPF. High & Mid-Grown CTC's too, were dearer by Rs 10-20 per kg, whilst Low Growns sold mostly around last week's levels.

Shippers to the CIS, China and Japan were fairly active whilst UK and the Continent continued selective.

Low Growns comprised approximately 3.2M/kgs in the Leafy/Tippy catalogues, a slightly larger volume compared to the preceding sale. There was good demand. In the Leafy catalogue, better OP1's were fully firm to dearer, while others and BOP1's were irregular and declined Rs 5-10 per kg, particularly towards the close. Better OP's together with a range of clean OPA's too maintained whilst others were irregular. PEK/PEK1's were however fully firm to dearer. In the Tippy catalogue too, select best FBOP's were irregular whilst others were fully firm. FF1s too were irregular. Here again cleaner secondaries maintained. In the Premium catalogue too, high-priced teas were firm whilst others were irregular. There was good demand from shippers to Turkey, CIS, Saudi Arabia, Dubai, Kuwait and Iraq.

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