Today’s Ex-Estate market comprising
a large weight of 1.2 Mkgs, which was 300,000 Kgs more than the
previous week met with fair demand. The Western BOP/BOPFs at the
commencement of the sale were Rs.5/- to Rs.10/- easier, however
strengthened and ended the sale being firm to a few rupees
easier. Nuwara Eliya BOP/BOPFs which moved up substantially last
week could not be sustained and consequently the prices declined
Rs.25/- to Rs.30/- on average with a number of invoices
remaining unsold.
Uva BOP/BOPFs too were of an easier market with average price
declines of Rs.10/- to Rs.15/-. A few Low Grown CTC PF1s sold
well appreciating in value whilst others were firm to a few
rupees easier. High and Medium grown PF1s mostly maintained.
BP1s declined Rs.5/- to Rs.10/-. The tea bag sector and Russia
lent fair support, whilst UK, Japan and Continental buyers too
were active.
The large weight of 4.2 Mkg of Low Growns that were on offer
this week, met with good demand, but at lower levels. In the
leafy category, select best OP1/BOP1s sold at marginally lower
levels, however, the below best varieties were mainly firm, if
not slightly dearer, at the bottom end prices maintained. The
shotty Pekoe1s were barely steady, but the bolder varieties
declined Rs. 10/- to Rs. 15/-. The well made OP/OPAs were well
absorbed, but around Rs. 10/- to Rs. 15/- lower than the
previous week, however the stalky varieties were quite strong
with prices at times appreciating Rs. 5/- per kg. In the small
leaf category, select best FBOPs declined Rs. 10/- to Rs. 15/-
with a large volume remaining unsold due to lack of suitable
bids.
The below best too followed a similar trend. The best FF1s
eased Rs. 5/- to Rs. 10/- with the below best declining further.
The tippy varieties declined sharply, here too a large weight of
teas remained un-sold, due to lack of suitable bids. There was
excellent demand from Russia, whilst Iran was rather subdued.
Dubai, Iraq, Jordon, Syria, Saudi Arabia, Turkey and other
Middle Eastern markets lent useful support.
- John Keells PLC