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ECONOMYNEXT – Sri Lanka’s High Growns were up while Medium and Low Grown prices were down at an auction on March 22 amidst good demand brokers said, after an earlier steep fall in rupee terms as the rupee appreciated.
Total auction volume was 5.2 million kilograms and there was good general demand, Forbes and Walker tea brokers said in a report.
The weekly sale average grew to 1282.01 rupees from 1256.96 rupees from a week ago, according to data.
“Overall quality was lower to last, particularly teas from the Western Planting districts,” Forbes and Walker said.
High Growns
The High Grown sale average was up by 15.54 rupees to 1,334.85 from 1,440.05 rupees last week, Ceylon Tea Brokers said.
Ex-Estate offerings were fairly similar to last and totalled 0.74 million kilos
In BOP, a handful of invoices were steady and marginally gained following special inquiry, whilst the others declined up to 100 rupees per kilo.
“In the Below Best category, brighter sorts were down 50-100 per kilo, whilst the others together with teas at the lower end of the market declined 50-100 rupees per kilo and more.
Well-made OP/OPA’s together with lower end were down 50-100 rupees per kilo.
A limited selection of Flavory PEK’s that were available were irregularly down. Well-made Orthodox leafy PEK’s were steady on last whilst others together with PEK1′ in general were down 50 rupees and more at times.
Low Growns
The average price of Low Growns grew 34.45 rupees to 1,307.03 rupees.
A selection of select Best FBOPs appreciated following special inquiry. However, teas at the bottom appreciated. FBOP1s in general were steady.
Select Best BOP1s were firm to dearer following quality, whilst Best and Below Best varieties were firm. Poorer sorts maintained.
Low Growns comprised of 2.1 million kilograms.
In the Leafy and Semi Leafy catalogues, a few select Best OP1/BOP1’s were steady to up, whilst the balance were steady.
Well-made OP/OPA’s were firm to selectively dearer following quality, whilst the Best and Below Best together with the poorer varieties down.
Well-made PEK/PEK1’s were firm to selectively up.
Best and Below Best varieties too met with fair demand, whilst the poorer sorts were fully firm.
Medium Growns
The Medium Growns sale average was up by 19.37 rupees to 1,127.22 rupees last week.
Large Leaf teas continued to sell well, whilst the others were down by 50-100 rupees per kilo.
In BOPF better sorts were steady and up to 50 rupees per kilo, whilst the others were irregular.
PEK/PEK1’s in general commenced firm on last and declined 50-100 rupees per kilo as the sale progressed.
(Colombo/Marh 26/2023)
