Ex-Estate teas get auctioned in outcry manner

The tea industry reminisced on past tea auctioning, with Ex-Estate category been auctioned in an outcry manner this week.

“Needless to say, industry personnel enjoyed the interaction reflecting on an iconic era. To the younger generation, a new experience to watch some of the seniors, particularly in the broking fraternity, performing this very unique task of disposing teas efficiently and speedily,” Forbes and Walker Tea Brokers shared in their weekly tea auction update.

The 25th sale of the year had on offer a total of 5.14 million kgs, which  was met with good demand though prices tended to fluctuate for certain grades, Forbes and Walker Tea Brokers said.

Ex-Estate offerings recorded a decline and totalled a small volume of 0.69 million kgs vis-à-vis 0.84 million kgs on offer the previous week. Overall quality was barely maintained, whilst prices continued to be buoyant primarily due to the decline in availability and to a lesser extent, the enthusiasm of an outcry sale.  

Better Western BOP/BOPF’s – Select invoices gained by Rs. 50-100 per kg following special inquiry, whilst the others were irregular. In the Below Best and Plainer categories, BOP’s were firm and Rs. 20-40 per kg dearer. Corresponding BOPF’s appreciated by up to Rs. 50 per kg for the better teas, whilst the Plainer sorts were firm and Rs. 20-30 per kg dearer for select clean leaf teas. 

CTC’s Teas in the High Grown category followed a similar trend and often sold around last week’s level, whilst in the Mid Grown category teas at the lower end witnessed a correction often following quality. Corresponding Low Grown varieties appreciated marginally by Rs.20 per kg and more. 

Low Growns comprised of 2.15 million kgs. The Leafy category met with less demand, whilst the Semi-Leafy and Tippy categories met with fair demand. 

In the Leafy and Semi-Leafy catalogues, well-made BOP1/OP1’s were easier, whilst the balance were firm. OP’s together with the Select Best OPA’s declined. The Best and Below Best OPA’s together with the clean leaf teas at the bottom were firm, whilst the balance were easier following quality. Well-made PEK’s particularly the bolder varieties appreciated, whilst the balance sold around last levels. PEK1’s, in general, were firm. 

In the Tippy catalogues, FBOP’s were firm, whilst the bolder varieties were easier. FF1’s, in general, sold around last levels. 

In the Premium catalogues, Very Tippy teas continued to attract good demand and were firm. Best and Below Best were firm to dearer, whilst the balance was irregular following quality.