Quantities of tea on offer during last month were 6.99, 5.92,5.85 and 5.97 totalling 24.73 million kg. During same period of last year, quantities offered were 6.01, 5.80, 6.17, 5.25 and 5.37 totalling 28.61 million kg. Western quality was sometimes preferable whilst Uvas were much brighter with a fair range of teas processing seasonal character.

Market

The best Western BOPs held well but the below best invoices were irregular with only the improved teas gaining in value. Plain teas held firm. BOPF on the contrary met with good demand especially in the second half of the month and advanced several rupees. The better BOP/BOPF fluctuated between Rs. 170 - 205 whilst, the below best sold between Rs. 125 - Rs. 140 and Rs. 140 - Rs. 170.

Plain teas at the end of the month settled at Rs. 105 and Rs. 150 respectively. Nuwara-Eliya BOP received low enquiry and declined several rupees but BOPF gained sharply except in the final sale where prices were lower. Best BOP/BOPF fluctuated between Rs. 160 - Rs. 190 and Rs. 180 - Rs. 222 whilst, plain teas sold between Rs. 105 - Rs. 115 and Rs. 135 - Rs. 150. Improved Uva advanced sharply whilst, other too often gained several rupees. The best invoices sold between Rs. 225 - Rs. 450 whilst, the plainer teas settled at Rs. 135 and Rs. 160 for the BOP/BOPF in the final sale. All CTC teas met with good demand and advanced several rupees. Best PF1/BP1 fluctuated between Rs. 250 - Rs. 275 and Rs. 230 - Rs. 250 whilst, the poorest sold between Rs. 95 - Rs. 115 and Rs.115 - Rs.125.

In the Low Growns wiry OP1/BOP1 sold at dearer levels together with below best sorts whilst, poor invoices last a few rupees. Best invoices sold between Rs. 190 - Rs. 220 and Rs. 200 - Rs. 265 whilst, below best realized prices between Rs. 170 - Rs. 185 and Rs. 180 - Rs. 205. Poorest settled between Rs. 120 - Rs. 150 and Rs. 150 - Rs. 160 in the final sale. OPA/Pekoes met with improved demand and often gained in value with the exception of the poorest which was lower in the first sales. The best fluctuated between Rs. 200 - Rs. 280 and Rs. 220 - Rs. 280.

The poorest sold between Rs. 85 - Rs. 130 and Rs. 170 - Rs. 195. Best BOP/BOPF continued to sell well and realized prices between Rs. 200 - Rs. 250 and Rs. 180 - Rs. 220. A few clonal invoices sold above these levels. Poorest sold between Rs. 90 - Rs. 100. Best FBOP an Tippy FFs sold at remunerative levels, but, secondaries often declined in value. Best FBOP and Tippies sold between Rs. 250 - Rs. 280 and Rs. 500 - Rs. 1250. Few very tippy invoices sold above these levels. Below best fluctuated between Rs. 180 - Rs. 210 and Rs. 200 - Rs. 450 whilst, poorest settled between Rs. 140 - Rs. 165 and Rs. 150 - Rs. 185 in the final sale.

Off Grades FGS, met with good demand and often sold at dearer levels except the poor invoices which were initially lower. Good BPs were dearer but, others declined a few rupees. Clean BM ad BOP1 a were dearer except on the final sale. Poor teas declined several rupees. Primary dust met with less demand with most categories declining in value. However, in the final sale Primary Dust gained a few rupees. Secondaries were irregular but, often lower.

With the improvement in the quality especially in the Eastern Slopes there was improved activity from Japan and Continent. UK and Russia also purchased higher quantities. However, South Africa, was less active. In the Low Growns. Saudi Arabia, Iraq, Iran, UAE and Turkey were fairly active.

Western planting districts experienced heavy rain but, eastern slopes continued dry except a few days of scattered showers. Low Grown too reported some rain.

Catalogues

All catalogues on schedule. ‘Violations’ were included in the respective catalogue as given below Ex-Estate All Catalogues; Leafy: 50% - For the sales in September 3/4 and 10/11; Tippy: August 27/28; High and Medium: September 17/18 and Dust: September 17/18.

Market Forecast

With the Uva Quality season having come to an end, the prices will now decline in the next few sales. However, the few bright teas will continue to realize much higher prices than the plainer invoices. In the Western slopes the bullish market will continue especially for the BOPF for the next few weeks due to the low harvest, however, in the second half of October prices are expected to drop due to the anticipated increase in the crop. Therefore, it is imperative that a good overall standard is maintained. The better Low Growns will enjoy satisfactory prices next two months with increase purchases from Russia. We would once again wish to remind all estates that a satisfactory product quality should be maintained as the poor teas will be neglected and sell at very low levels. (John Keells Ltd.)