AUCTION WEEKLY REPORT
DATE -
27th & 28th
July 2010
SALE NUMBER - 29 |
MARKET OUTLOOK
Low Grown Leafy category :
Best Pekoes were firm to easier all round while the others gained ni value. The OP / OPA were mostly firm while the bottom end of the market eased. The BOP1 / OP1 appreciated all round.
Low Grown Small leaf category :
Well-made FBOP appreciated by 10 – 15 USC while the below best sorts were firm to easier. The FF1 gained by 5 – 10 USC all round. FF also appreciated.
Ex-estate :
Select best Western BOP were firm to dearer while the others along with the below best and plainer sorts eased. Best BOPF were firm and occasionally dearer while the below best sorts eased by 5 – 10 USC. Nuwara Eliya BOP eased all round while the BOPF gained by over 20 USC. Uva / Udapussellawa teas eased all round.
CTC:
BP1 were firm to dearer. High and Low grown PF1 gained by 5 – 15 USC on average.
Dusts : Better liquoring teas were dearer while the others were fully firm. However, the older unsold invoices that were re-offered this week were heavily discounted.
Off grades : All sorts eased by 5 – 10 USC.
TRENDS
The ex-estate market opened on a strong note with most BOPF gaining in value compared with last week. However, several buyers operated only selectively and the market eased progressively with most teas shedding around 10 USC toward the close of the sale.
Most Uva factories have switched to small leaf manufacture in line with expected demand for BOP / BOPF during the season. However, buyers are not showing much interest on these as yet, and some factories might be soon be tempted to revert to leafy manufacture considering the current weather conditions as well as price levels.
Low grown demand is expected to remain strong owing to declining volumes on offer.
QUALITY AND DATES OF MANUFACTURE
The quality of high and low grown teas shows a slight improvement. The teas on offer next week were produced during the first week of July.
QUANTITY ON OFFER
Sale No.29( 27th / 28th July 2010)
Ex-estate (High grown) – 1.12 million kg
Large Leaf (Low grown) – 1.95 million kg
Small Leaf (Low grown) – 1.64 million kg
TOTAL (All categories) – 7.68 million kg
Sale No.30( 03rd / 04th August 2010)
Ex-estate (High grown) – 1.03 million kg
Large Leaf (Low grown) – 1.92 million kg
Small Leaf (Low grown) – 1.62 million kg
TOTAL (All categories) – 7.47 million kg
Sale No.31( 10th / 11 th August 2010)
Ex-estate (High grown) – 1.08 million kg
Large Leaf (Low grown) – 1.83 million kg
Small Leaf (Low grown) – 1.54 million kg
TOTAL (All categories) – 7.25 million kg
AVERAGE AUCTION PRICE
Sale No. 26(07th July 2010) – US$ 2.97
Sale No. 27(14th July 2010) – US$
3.00
WEATHER AND CROP
19th – 25 th July 2010
The Western and Nuwara Eliya districts experienced gloomy weather conditions accompanied by scattered showers. The Uva / Udapussellawa districts reported bright mornings with occasional showers at the beginning of the week. The Low grown districts experienced bright weather conditions with scattered showers.
Crop intakes in all planting districts show a marginal decline.
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