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Sri Lanka’s High and Mid Grown teas fell at the last auction of 2022 while Low Growns gained with 4.7 million kilograms sold, brokers said.
Sri Lanka tea prices gained steeply in 2022, after the rupee fell.
The prices were steady since May 2021, and gradually picked up from January 2022 to reach an all time high in October.
All districts maintained their crop intakes except for the Uva’s which recorded a decline due rain, the Ceylon Tea Brokers said.
Heavy showers are expected in Uva in the coming week, brokers said.
“Auction offerings totalled 5.1 million kilograms, of which Ex-Estate (high grown) offerings were marginally higher and totalled 0.72 million Kilograms. There was good demand,” Forbes and Walker Tea brokers said.
“Overall quality, particularly from the Western slopes were slightly preferable to last, whilst teas from other growing regions showed no change.”
High Growns
High grown BOP and BOPF were down about 50 rupees, this week while BP 1 went up by about 50 rupees, Ceylon Tea breakers said.
Last week the High Grown sale average was 1360.84 rupees.
“Nuwara Eliyas’ together with the Uda Pussellawas’ were irregular. Uvas’ were irregular following quality,” Forbes and Walker report said.
“CTC teas continued to sell around last week’s levels with price fluctuations often reflective of quality variances.”
Low Growns
Low Growns PEK was up by 50 rupees, this week while BOP 1 was down about 30 rupees, Ceylon Tea breakers said.
Low Growns comprised 2.2 M/Kgs. Market met with good demand but experienced a slight decline towards the closure of the sale, brokers said.
Last week the Low Growns sale average was 1547.76 rupees.
“In the Leafy & Semi Leafy catalogues, select Best OP1/BOP1’s were fully firm, whilst a selection of below Best varieties met with improved demand. However, experienced a slight decline towards the closure of the sale,” Forbes and Walker said.
“Well-made OP/OPA’s in general were fully firm to selectively dearer, whilst the others and poorer sorts maintained. PEK/PEK1’s, in general, were fully firm to dearer following quality.”
BOP1 Select best gained, whilst best and below best were irregularly lower. Poorer types maintained.
OP1 Select best together with best and below best were firm to dearer. Poorer sorts were fully firm.
OP Well-made varieties were firm, whilst best and below best were firm to dearer. Poorer sorts maintained.
Medium Growns
Medium Grown FBOP, FBOPF1 and OP1 was down by 100 rupees this week, while PEK 1 was up about 50 rupees, Ceylon Tea breakers said.
Last week the medium Growns sale average was 1250.44 rupees.
Large Leaf teas were irregularly down, whilst the others were mostly firm.
In BOPF Best available were firm and up to 50 rupees per kg dearer, whilst the others were generally firm.
Well-made OP/OPA’s were firm to dearer Rs. 50 per kg, whilst others together with the teas at the lower end were firm on last.
Source: https://economynext.com/sri-lanka-high-mid-grown-teas-ease-low-growns-gain-107983/
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