ECONOMYNEXT – Sri Lanka’s High Grown tea prices gained amid stronger demand while Medium Growns fell at the auction on February 14, brokers said.
Prices of the Low Growns also saw an increase during the last week auction.
Total offered quantity was up to five million kilograms from 4.5 million kilograms a week ago, Ceylon Tea Brokers said in a report.
The weekly sale average fell from 1465.40 rupees to 1428.59 rupees from a week ago, according to data.
The prices are down for the third week in a row.
High Growns
The High Grown sale average was up to 1405.55 rupees last week, Ceylon Tea Brokers said.
High grown BOP, BOPF and PF1 gained by 50-100 rupees.
“Ex-Estate offerings too were marginally higher and totalled 0.70 M/Kgs.” Forbes and Walker tea report said.
Nuwara Eliya’s were limited in volume and gained 200-300 rupees per kilogram following quality,
“Teas from the Uda Pussellawa Region gained 100 rupees per kilogram and more.”
Low Growns
In Low Grown Teas, OP/OPA and PEK were up by 50 rupees while BOP 1 was down by 50 rupees.
The Low Growns sale average was down by 62.27 rupees to 1485.66 rupees last week.
Low Growns comprised of 2.1 million kilograms.
Leafy catalogues met with fair demand, whilst the Semi-Leafy and Small Leaf varieties were easier. Shippers to Iran and Türkiye continued to be very selective, whilst shippers to Russia were fairly active, Forbes and Walker said.
In PEKOE/PEKOE 1 select best teas together with full range of bold PEKs maintained. And the rest fell.
Medium Growns
Medium Grown FBOP was up by 50 rupees while FBOPF1 and OP1 fell 100 rupees.
PEK1 also fell by 50 rupees.
The Medium Growns sale average was down 1165.65 rupees last week.
The price of OP/OPA grew by 50 rupees a kilogram.
PEK and PEK1sector fell by 50 rupees. (Colombo/Feb 19/2023)
