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Conteporary Brokers
Global Weekly Report
Tea Market Report 16th August to 20th August 2021


In this week’s Mombasa auction, good general demand prevailed with the all-average hammer rising by 2usc to close at $1.97. This week saw the smallest auction of 2021 so far with 135,860 pkgs compared to 167,587 last week. Due to the smaller volumes on offer, most teas were received well, apart from WoR PF1 and D1 which met selective demand. Outlots stood at 33% compared to 37% last week. EoR PF1s continue to be the most sought-after types and with the small offerings, they faced heavy competition. WoR PF1 met selective demand. Medium types were irregularly firm to slightly dearer with better teas receiving good interest, whilst the poorer types were ignored. Some independent producers are still unable to sell a single lot of tea over the past 2 weeks and could face liquidity issues soon. Meanwhile, EPKs were about firm and Williamsons met selective demand. Nandi and Limuru teas appreciated on the account of UK and Pakistan packers. Plainer types were irregularly firm to dearer. EoR BP1 sold at firm to dearer rates and a few selected lots appreciated by over $1.5. The below best types met selective interest selling at firm to slightly dearer rates. However, a chunk of these teas is being ignored and will continued to be reprinted and recycled. A few lines of WOR BP1 were bought, however the majority remained unsold due the high reserve price. Plantation types met selective demand and sold at irregularly firm to slightly dearer rates. Plainer BP1s sold at irregularly steady rates following quality and the poorer reprints continue to be recycled. Medium and lower types also met good absorption at irregularly firm to slightly dearer levels.

There was good demand for D1 & PDs across all categories. The EoR types sold at firm to dearer rates and WoR was swept through by one buyer at the reserve price of 258usc. There was good but irregular inquiry on medium and better plainer PD/D1s at firm to dearer rates, however, some of the independent producer teas did not meet the quality specifications and were taken out as they were deemed overvalued. The lower plainer types were irregularly firm to dearer. On the weather front, light to moderate rainfall was recorded both EoR and WoR with both daytime and night-time temps increasing. Crop levels in both regions declined. In Malawi, there was good demand for the well-made teas with the remainder being neglected. The well-made BP1s sold at 4usc below valuations and the poor descriptions were neglected. There was very good demand for the PF1 Sc at 1usc easier rates. There was good demand at 1usc easier rates for PF1 seedlings. PFs sold at last week’s levels. PDs were neglected. D1s met good demand at 7usc below valuations. The clean leaf descriptions of offgrade fngs met good demand at steady to 1usc dearer rates, whilst poor descriptions were taken out and the one offgrade dust lot on offer was snapped at one usc above valuation. Weather in both Thyolo & Mulanje was dry and hot during the day and cold at night. Crop intakes are stable. In Kolkata, there was much improved demand, with the best and better mediums and Assam’s selling at firm to 5usc dearer. Medium and plainer sorts sold at barely steady levels. In total 88% of teas on offer sold. In Guwahati, there was good demand, with good liquoring sorts steady and the remainder irregular and easier at times. In South India, there was fair demand across all auction centres with prices dearer for leaf ctc in Coonoor and Coimbatore as well as dust ctc in Coonoor. The remainder were lower. 


In this week’s Colombo auction, there was a total of 6.68mkgs of tea on offer, slightly below the 6.71mkgs last week. The better types of the high grown variety on both the eastern and western slopes both met improved demand, with BOP/BOPFs often selling about 10usc higher than last week. Only the light, bright invoices were neglected. Additionally, Uva seasonal teas sold extremely well and sold about 50-75usc higher. The high and medium catalogue stood at 0.796mkgs, a drop of 7%. There was good demand for FF1s, FBOPs and BOP1s. In the low grown leafy segment, there was 1.8mkgs on offer. BOP1s met good demand, with the better teas gaining 5-10usc and the balance selling 5usc higher. Better OPAs continued to sell well, although demand for better OPs was sluggish. Better OP1s met good demand along with well-made Pek1s which were about 10usc dearer. Better bold pekoes were firm and there was less demand for the lower end OP1, Ops, OPAs and Pekoes. There was also 1.17mkgs of low grown small leaf grades on offer and they met fair general demand. The very tippy teas met good demand and were about 15usc dearer. Offgrade types had similar volumes to last week, but despite the strong market for high grown main grades, FGS1 exhibited an easier trend. The low BM, BOP1As and FGS were marginally lower than the previous week. BPs managed to hold their price and at times sold at marginally dearer levels. Dust offerings stood at 0.62mkgs, with good demand for the primary dust1s which were 10usc dearer. Cleaner secondaries eased by 10usc. Low grown dust were also lower by 5-10usc. On the weather front, western regions reported overcast conditions with showers, whilst UVA/Udapussellawa regions experienced overcast conditions. Nuwara Eliya’s had bright morning and overcast evenings. Low grown areas had clear weather throughout the week. Crop intake in the western, Udapussellawa and Low Grown regions reported a decline, whilst the Nuwara Eliya and Uva regions maintained. Tea exports for the month of July 2021 totalled 25.54 mkgs, a decrease of 2.5mkgs compared to July 2020. The cumulative 2021 figure to date however, is higher at 162.52mkgs compared to 152.13mkgs last year. Iraq has taken the no 1 position as the main buyer of Ceylon teas followed by Turkey, Russia and UAE respectively. In Jakarta, there was improved demand for 9,780 packages with 37% remaining unsold. Java and West Sumatra Orthodox/CTC were selling at steady to easier levels. Additionally, Last week, an outcry auction for reprints was organized as a trial, which worked well and 95% of the lots were sold. On the weather front, Java & Sumatra both recorded drying conditions throughout the week with some light showers. In Kolkata, there was very strong demand, with tippy whole leaf grades absorbed at firm rates and cleaner whole leaf/brokens firm to 10usc dearer. Overall, 96% of teas on offer sold. In South India, there was largely fair demand and lower rates for orthodox teas, apart from dust descriptions in Coimbatore which were dearer.   “We would accomplish many more things if we did not think of them as impossible.” – Vince Lombardi

16 Aug, 2021
Acknowledgement: Vanrees & Co

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