Strengthening of rupee coupled with uncertainties in some markets impacts tea demand and prices

The 49th sale of the year that concluded this week had an increased volume of 6.1 million kilogrammes vis-à-vis the 4.9 million kilogrammes on offer the previous week. 
In general, a firm to easier trend in prices was seen. 
“Perhaps the impact of the strengthening Sri Lankan rupee combined with the uncertainties in some key markets, continued to impact adversely on the demand/prices,” Forbes and Walker Tea Brokers said in its weekly tea auction report. 

The Ex-Estate offerings increased to 0.88 million kilogrammes, from a 0.74 million kilogrammes the previous week. The overall quality of teas from the Western slopes was irregular, whilst the teas from the Eastern sector showed no significant change. 
The better High Grown Westerns recorded a fairly steep decline in prices, somewhat unexpected, whilst the teas at the lower end too were easier and more so towards the close of the sale. 
The Nuwara Eliya BOP/BOPFs were mostly unsold, due to a lack of suitable bids. The Uda Pussellawas were barely maintained, whilst continuing to sell at the lower end of the market. 
The Uva – High-prices BOPs, were sharply lower, whilst the others declined by Rs.50-100 per kilogramme. The corresponding BOPFs – Better sorts, were Rs.20-40 per kilogramme lower, whilst the others eased further. 
The High and Medium Grown CTC teas – BP1s, continued to have hardly any offerings. The better PF1s declined by Rs.20-40 per kilogramme, whilst the others continued to sell around last week’s levels. The corresponding Low Growns – Select BP1 invoices, were substantially dearer, whilst the others were irregular. The PF1s – a few Select Best invoices, sold firm, whilst the others were up to Rs.50 per kilogramme easier.    
The Low Growns comprised of 2.6 million kilogrammes. All categories met with fair demand. 
In the Leafy and Semi-Leafy catalogues, the Select Best BOP1s appreciated, whilst the Best varieties sold at last levels. However, the Below Best, together with the bolder varieties, were dearer, whilst the balance was firm. The high-priced OP1s were firm, whilst the balance appreciated. The well-made OPs were fully firm, whilst the Below Best and teas at the bottom were dearer. 
The high-priced OPAs were easier, whilst the Best varieties sold around last week’s levels. The Below Best and clean leaf teas at the bottom gained in value. The Select Best PEKs were firm, whilst the Best, Below Best and clean leaf teas at the bottom were easier. The PEK1s, in general, were lower.
The Select Best and Best FBOPs were firm, whilst the balance appreciated. A few select Best FF1s together with the teas at the bottom were firm, whilst the Best and Below Best were easier.
In the Premium catalogue, the Very Tippy teas were firm, whilst the Best and Below Best sold around last levels. The balance was irregular, following quality.