Tea Auction Sees 4 Million Kgs Sold Amid Irregular Market and Price Fluctuations at Last Auction (18th)

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As reported by the Tea Exporters Association Sri Lanka,

WEEKLY TEA MARKET REPORT – SALE NO: 37 – 18TH SEPTEMBER 2024

Auction No. 37 concluded today was a one-day restricted sale with a total volume of 4.0 million Kgs on account of the intervening holidays. Overall, an irregular market trend.

Ex-Estate offerings too recorded a decline and totalled 0.6 million Kgs, down from the 0.7 million Kgs on offer the previous week. Overall quality showed a decline combined with a lesser availability of teas in the higher quality bracket.

Best Western BOP/BOPF’s continued to weaken by up to Rs. 50 per kg, on average. Teas in the Below Best and Plainer categories commenced on a hesitant note and were Rs. 20-30 per kg lower on last, whilst it was encouraging to note a gradual firming up of prices as the sale progressed. Nuwara Eliya BOP/BOPF’s met with less activity and here again, would be related to quality. Uda Pussellawas’ selling at the lower end showed a slight appreciation, whilst Uvas’ delivered mixed results.

High & Medium Grown CTC teas were irregular and barely steady on last levels, whilst the corresponding Low Grown types continued to be buoyant.

There was selective interest from shippers to the UK and South Africa, whilst shippers to Japan and the CIS continued to operate fairly strongly.

Low Growns comprised of 1.8 million Kgs. The Leafy, Semi-Leafy and Tippy categories met with fair demand.

In the Leafy and Semi-Leafy catalogues, well-made BOP1’s were firm, whilst the balance were irregular. OP1’s were firm. Select Best OP’s declined, whilst the balance sold around last levels. OPA’s, in general, were firm. Select Best PEK/PEK1’s appreciated, whilst the balance were firm on last.

Select Best FBOP’s were firm, whilst the Best together with the clean leaf Below Best and the bolder varieties were firm to dearer. Balance sold around last levels. Well-made FF1’s were firm, whilst the cleaner Below Best and the clean leaf teas at the bottom were firm to dearer. Balance were irregular following quality.

In the Premium catalogue, Very Tippy teas met with good demand and were dearer. Best together with the clean leaf Below Best too appreciated, whilst the balance were firm on last.

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(Source- Forbes & Walker Tea Brokers)