Fair demand for Ceylon Tea from Japan, China

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By 2017-10-20

The Sri Lankan Tea Auction held this week saw good demand for the 6.3M/Kgs offered, with demand from Japan and China.
"Auction offerings were similar to last and totalled a 6.3M/Kgs. There was good demand at irregular rates," Forbs and Walker Tea Brokers said in a statement.

"Ex-Estate offerings showed a marginal increase and totalled a 0.8M/Kgs vis-à-vis the 0.7M/Kgs on offer the previous week, while quality of teas on offer showed significant change. There was good demand although buyers were less forceful and more selective following quality," the statement said.

"Consequently the poor leaf teas were discounted, widening the price parity between good leaf teas and their poorer counterparts. Western BOP/BOPF in general declined Rs 10-20/- per kg, with select invoices selling at last week's levels following special inquiry.
"Nuwara Eliyas enjoyed an exceptional sale with BOP's appreciating up to
Rs 50/- per kg and BOPF by Rs 20/- per kg. Uva/Udapussellawas too were mostly Rs 10-20/- per kg easier. CTC-BP1's were firm and Rs 10-20/- per kg lower particularly for the Mid Grown teas. PF1's – better teas were often firm and dearer, while the poorer types declined in value.

"Shippers to the CIS continued to be reasonably active across a fair selection of teas. Fair demand was seen from Japan and China, while UK and the Continent continued to be selective. South Africa was quiet.

"At this week's sale a total of 2.9M/Kgs came up for sale in the Low Grown Tippy/Leafy catalogues. There was fair demand. In the Leafy catalogue, better OP1's were fully firm to selectively dearer. Others and BOP1's were mostly lower to last. A selection of better OP/OPA's maintained, while others were irregular.

"At the lower end however, prices were fully firm. PEK/PEK1's too were mostly firm on last. In the Tippy catalogue better-made FBOP/FF1's and the cleaner secondaries maintained. For others, where quality was not maintained, prices declined. "In the Premium catalogue, a selection of well-made teas were fully firm to dearer. Others were irregular and lower. There was good demand from shippers to CIS, Turkey, Iraq, Dubai and Saudi this week," the statement concluded.

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