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Tea Auction Offerings Surpass 6 Million Kilogram Mark Amid Mixed Market Trends

Total auction offerings have exceeded 6.0 million kilograms for the first time in five months, last achieved during Sale No. 22 on June 4-5, 2024.

Despite this increase, weak market sentiment persisted. Well-made and high-quality teas continued to command premium prices, while lower-quality teas saw varied results.

Ex-Estate offerings totaled 0.8 million kilograms, with no notable change in overall tea quality. The Best Western BOP/BOPFs saw select teas maintain or increase in price due to special demand, while others fell by up to Rs.50 per kilogram, largely driven by quality. BOPs in the Below Best category remained firm but eased by Rs.20-40 per kilogram, with similar declines observed for BOPFs. Lower-end BOPs were inconsistent, and corresponding BOPFs fell by Rs.20 per kilogram or more, particularly for plainer teas. Nuwara Eliya teas showed irregularity, reflecting quality variations.

Uda Pussellawa BOPs barely held steady, with BOPFs declining by Rs.20 per kilogram or more, remaining at the lower end of the market. Uva select BOP/BOPFs performed well, though others were irregular and often dropped in price due to lower quality.

High and Medium Grown CTC BP1s remained firm and even appreciated, but other varieties were inconsistent. PF1s generally fell by Rs.50 per kilogram or more. Low Grown BP1s mostly went unsold, while PF1s stayed firm.

There was reduced activity from shippers to the UK, the continent, and South Africa, with selective purchasing observed from Japan and China. Shippers to the CIS remained active but at lower price points. Low Grown offerings amounted to 2.5 million kilograms, attracting fair demand.

In the Leafy and Semi-Leafy catalogues, well-made BOP1s and lower-tier teas held firm, while others declined significantly and sometimes went unsold due to a lack of bids. High-priced OP1s held steady, with remaining types easing. Well-made OPs stayed firm, while others were lower. Select Best and Best OPAs declined, though lesser teas sold at previous levels. Select Best PEKs remained firm, but others dropped. PEK1s held firm overall.

Select Best FBOPs were steady, while broader varieties declined. Some cleaner lower-end teas maintained last week’s prices, while others dropped. Select Best FF1s ranged from firm to easier, and Best and Below Best categories saw declines. A few cleaner Below Best teas sold at previous levels, while the remainder softened. In the Premium catalogue, Very Tippy teas were firm. The Best, cleaner Below Best, and cleaner lower-end teas remained steady to dearer, though the rest showed irregular performance, influenced by quality.

Source – dailymirror.lk

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