ECONOMYNEXT – Sri Lanka tea prices mixed but still holding on to recovery in the fourth week of July amid by good demand for Low Growns, while Ex-Estate teas saw less demand, brokers said.
Sri Lanka sold 6.7 million kilograms of tea, selling 0.9 million kilograms in Ex-Estate teas (teas sold while in the factory itself to retain quality) while selling 6.7 million kilograms in Low Grown (Leafy/Tippy) teas.
It was reported that 6.8 million kilograms of tea were sold in total at the auction held last week.
Brokers said that Ex-estate teas saw low demand, while Low Growns saw good demand in the auction held on 21st and 15th July.
Last week, the High Grown auction average was tea sale average of 530.19 rupees.
In BOP grades, Best westerns declined by 10-20 rupees following poor quality while Blow bests declined by 20 rupees a kilogram.
BOP Nuwara Eliya’s saw few offerings while Uva/Uda Pussellawa prices picked up by 20 rupees a kilogram.
In BOPF grades Best Westerns were down 20 rupees a kilogram while Below best prices were firm, brokers said.
BOPF grade Nuwara Eliya’s gained selectively following special inquiry. Nuwara Eliya’s gained whereas Uda Pussellawa better sorts were up 10-20 rupees per kilogram.
Last week, the Medium Grown auction average was 513.06 rupees down 9.14 rupees from a week before.
Well-made OP/OPA’s gained 10-20 rupees a kilogram while other sorts and teas in the lower end too gained marginally.
BOPs dropped 20 rupees a kilogram while BOPF teas too declined 10-20 rupees.
Select Best FBOPs prices were irregular whilst others eased marginally owing to low quality.
Select best FF1’s prices went up selectively. Others came down by 10-20 rupees a kilogram.
Last week the Low Grown tea sale average was 667.23 rupees up 5.33 rupees from a week earlier.
Expensive BOP1 grades were irregular in price, dropping along the auction while other sorts gained.
Select best BOP’s appreciated. Best and cleaner teas in the below bests maintained prices while others were irregular.
Well made, very tippy FBOPF/FBOPF1teas with a good show of tip attracted good demand while Bests and Below bests were firm.
Select best FF1’s prices remained unchanged. Best and below bests went up while cleaner teas at the bottom gained.
In CTC teas, high grown BP1s gained by 20 rupees a kilogram and PF1s were lower by 10-20 rupees a kilogram with poor quality sorts being neglected.
Mid grown BP1 prices went up irregularly while PF1 prices started off firm and gradually appreciated as the sale progressed. Thin liquoring teas were neglected.
Low grown BP1s were reportedly irregular. PF1s Commenced firm and appreciated as the sale progressed, with select invoices gaining substantially following special inquiry.
The Department of Meteorology forecasted showers/thundershowers in the Western region during the week ahead and rainfall above 50 millimeters in the Uva region next week.
Western/Nuwara Eliya regions reported dull mornings with evening showers throughout the course of the week.
Uva/Udapussellawa regions experienced bright weather with a few isolated showers throughout the week.
Low Growns in the Ruhuna and Sabaragamuwa regions reported bright mornings and dull evenings.
According to the Department of Meteorology, fairly heavy rainfall (above 75 mm) is expected in the Sabaragamuwa region during the week ahead.
The Western region showed an increase in the crop intake, whilst the Nuwara Eliya, Uva, Udapussellawa, Ruhuna and Sabaragamuwa regions maintained last week levels. (Colombo/July25/2020)