Overall tea auction offerings marginally higher this week

Overall tea auction offerings were marginally higher this week and totalled 5.49 M/Kgs. Improved demand for the High & Mid Grown Small Leaf teas, whilst the Low Growns continued to witness fair demand with the concerning factor being the significant weakening in prices for the PEK/PEK1 grades.

Ex-Estate offerings maintained and totalled 0.67 M/Kgs. Overall quality of offerings showed no significant change and in this backdrop, it was encouraging to witness improved demand and a distinct classification of the better teas vis-à-vis the poorer counterparts. These teas were closely competed for by shippers to the UK, the continent and Japan with some additional support from the tea bag sector.

In the Western sector, better BOP/BOPF is often appreciated by Rs. 50 per kg, and up to Rs. 100 per kg and more for select invoices following special inquiry.

Forbes & Walker Tea Brokers

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