SALE NO: 20
AUCTION DATES: 23rd and 24th March, 2017
Sri Lanka harvested a crop of 32.8Mkgs during the Month of April 2017, recording an increase of its previous year’s crop of 27.3Mkgs, a significant growth of 20%. The main contributor for the 32.8Mkgs was from the Low Grown planting districts with 58.5% followed by the High Growns at 25.5% and the Medium Growns at 16%. When compared with the 2016 harvest, positive variances have been recorded in the Low Growns at 20%, Medium Grown at 17% and the High Grown at 22%.
The Sri Lanka Tea Exports for the Month of April 2017 was recorded at 20.1Mkgs which is a decrease of 9.3% when compared to the same period of the previous year. The FOB value at Rs.822.83 was Rs.218.06 above the FOB value of 2016. As a result the value of the Tea Exports for the month of April has exceeded by Rs.3.1billion over the previous year. The tea export quantity for the first four months of the year has recorded an 8.39% decrease, however recording a 18% increase in export earnings due to the higher FOB value by Rs.176.67 when compared to the same period last year. Russia has maintained its position as the leading importer of Sri Lanka Tea. The other Major importers of Sri Lanka Tea are Iraq, Turkey, Iran and U.A.E. Other countries such as Libya, Azerbaijan, China, Japan and Chile have also lent useful support.
Today’s Ex Estate sale comprised of 1.47 Mkgs which met with lower demand. Select best Western BOPs were firm to a little dearer at the commencement of the sale, but declined subsequently. The below best and plainer sorts too followed a similar trend. Select best Western BOPFS declined at the commencement of the sale and eased further towards the latter part together with the below best and plainer sorts with a large volume remaining unsold. Nuwara Eliya BOPs were irregular following quality, whilst the BOPFs were firm to a little dearer at times. Uva/ Uda Pussellawa BOPs declined as the sale progressed and the BOPFs too eased substantially closely following quality. High & Medium BP1s were substantially lower, whilst the low grown sorts too followed a similar trend. High & Medium PF1s too showed a decline with a number of poor sorts remaining unsold with the Low Grown types too easing further.
The 3.6 Mkgs of Low Growns that came under the hammer, met with lower interest. In the Leafy segment, Select Best OP1/BOP1s shed a few rupees, whilst the balance were firm. OP/OPAs declined several rupees. Well-made Pekoe/Pekoe1s gained a few rupees, balance were firm. In the Small leaf category, Select best BOP/BOP.SPs and BOPF/BOPF.SPs sold at last levels, balance declined a few rupees and more at times following quality. FBOPs were mostly easier and shed further towards the latter part of the sale. FBOPF1s followed a similar trend. Best Tippy varieties gained substantially, whilst the balance were firm to dearer.
There was good demand from Russia, Iran, Syria and useful support was lent from Iraq and Libya.