Sale Number 6 of year 2017
Sale No: 6 was concluded this week with a total of 5.7Mkgs on offer.
The Sri Lankan National average stood at Rs.596.26 per kg for the month of January 2017. This is significantly higher [45%] to the Rs.410.94 achieved during the same month in 2016. The biggest gains have been from the Medium Grown (+47%) followed by High Grown (+42.5%) and Low Grown (+42%). The sale averages achieved in the first month of 2017 is no doubt the highest ever recorded bettering the previous best recorded in November 2016.
Ex-Estate offerings comprised of 7.5Mkgs met with an irregular demand. Limited selection of well made, brighter teas with seasonal character were firm to last and appreciated. Other Western BOPs were barely steady with a number of invoices remaining unsold due to lack of adequate bids the BOPFs attracted some useful bids. A few Nuwara Eliya BOP/BOPFs sold at fully firm to dearer rates. CTC PF1s were easier to last barring a few select best Low Grown types that maintained. Liquoring leafy varieties attracted high bids on special inquiries.
The 2.9 Mkgs of Low Grown teas on offer met with fair demand. OP1s were marginally dearer to last. BOP1s advanced a few Rupees. OP/OPAs declined on last levels. PEKOEs barely maintained on last levels. BOP/BOPFs declined on last levels. BOP SP maintained. FBOPs declined on last levels, however FBOPF1s moved up considerably above last. Tippy varieties also advanced above last levels.
There was reasonably good demand from Russia, Syria, Turkey, Iran and Middle Eastern countries.
The Auction was conducted on the 07th and 08th February, 2017