Weekly Tea Market Report

WEEKLY TEA MARKET REPORT - SALE NO: 17 - 29^TH/ 30^TH APRIL 2024

Overall auction offerings increased to 5.2 million Kgs from the previous week's 4.6 million Kgs. Low Grown/Leafy teas met with improved demand and a firm to dearer trend in prices, whilst the High & Mid Grown Small Leaf types were irregularly easier.

Ex-Estate offerings totalled 0.73 million Kgs from 0.66 million Kgs the previous week. Quality of teas, particularly from the Western Region showed a general decline, whilst offerings from the other regions were fairly similar to last.

Consequent to the seasonal buying coming to an end, majority of the Better Western BOP/BOPF's witnessed a sharp decline in prices of Rs. 100 per kg and more for select high-priced teas. In the Below Best category, few select BOP's were firm and dearer following special inquiry, whilst the others were barely steady. BOP's at the lower end of the market declined by Rs. 20-40 per kg. Corresponding BOPF's, where quality was maintained, prices were generally firm, whilst the others together with the Plainer sorts declined by Rs. 20-40 per kg and more. Nuwara Eliyas' continued to sell reasonably well. Uda Pussellawa BOP's were irregular and easier following quality, whilst the corresponding BOPF's were firm and Rs. 20 per kg easier. Uva BOP/BOPF's declined by up to Rs. 100 per kg and more.

High & Medium Grown CTC's - BP1's continued to be limited on offer and consequently, prices were irregular. Better PF1's and where quality was maintained, prices were around last week's levels, whilst the others were irregular and easier. Corresponding Low Grown varieties - BP1's were firm and tended dearer, whilst the PF1's were firm around last levels.

There was less activity from shippers to the UK, Japan and the continent, and selective buying from shippers to China and South Africa, whilst shippers to the CIS were reasonably active at lower levels.    

Low Growns comprised of 2.07 million Kgs and all categories met with fair demand.

In the Leafy and Semi-Leafy catalogues, well-made BOP1's were firm to dearer, whilst the balance sold around last levels. Select Best and Best OP1's appreciated, whilst the balance eased. OP/OPA's, in general, were firm to dearer. Well-made PEK/PEK1's appreciated, whilst the balance were firm on last levels.

In the Tippy catalogues, FBOP's were firm, whilst the Below Best together with the bolder varieties appreciated. Balance were firm on last levels. Well-made FF1's together with the clean leaf Below Best appreciated, whilst the balance were easier following quality.

In the Premium catalogues, Very Tippy teas met with good demand and were firm. Best and Below Best were sold around last levels, whilst the leafier varieties appreciated.

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