Market Report (Week 49)

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Week 49, 2011 Tea market report 5 – 9 December, 2011 In an effort to be positive, we’ll write about the bright and better markets first this week. Colombo had another good session with the main weight dearer although HG tea did struggle a little. The auctions in north India saw increased demand from the western Indian buyers and any price declines on the lower teas were less marked. Jakarta slid a little and the S. Indian markets eased for the majority with only the better teas catching the eye
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    1   Week 49, 2011 Tea market report 5 – 9 December, 2011   In an effort to be positive, we’ll write about the bright and better markets first this week. Colombo had anothergood session with the main weight dearer although HG tea did struggle a little. The auctions in north India sawincreased demand from the western Indian buyers and any price declines on the lower teas were less marked.Jakarta slid a little and the S. Indian markets eased for the majority with only the better teas catching the eye andattracting demand. In the coming weeks, auction quantities are adequate to increasing, Jakarta excepted. Crops arelooking quite healthy around the globe and as the figures below demonstrate, are on a par with the same period lastyear. This is a quite different picture from earlier in the year when crop was running behind 2010 and displays howeasily crop can be gained or lost. Looking ahead, we do anticipate further price declines, nothing too dramatic butdeclines nevertheless. North America has gone back to work and seems focussed on Argentine tea. UK / EU were a little less activeoverall. Pakistan packers continued to buy steadily in Mombasa whilst Afghanistan and Karachi bazaar weresignificantly busier in that centre. We saw maintained interest from Egypt but the horn of Africa went on. The MiddleEast were very strong in Colombo, CIS likewise. The packers in north India bought steadily with the domestic buyersand bazaar dealers buying more tea.Weather and growing conditions in the main producing areas are still very much according to expectation. In northIndia , the weather is cold and pruning is about to begin. Both sides of the rift in Kenya have seen useful rainfall andcrops are steady to improving with the auction offerings moving up. Both growing areas in Malawi have been mostlydry over the past days and crop has taken a slight dip. Sri Lanka has seen fair growing weather and crop is steady.There has been good rainfall in Java & Sumatra with crop moving up. Vietnam has turned much cooler and crop israpidly ebbing. Argentine producers report better growing conditions in the past week or so. This made us smile:- “An elephant is a mouse built to Government specifications.”  Crop figures (in m.kgs) Oct 11 Oct 10 Jan/Oct 11 Jan/Oct 10 Sri Lanka 23.9 27.9 269.9 276.2 Bangladesh 8.3 7.7 48.9 47.6 Kenya 39.9 34.1 299.7 323.6 Malawi 2.2 2.9 39.3 45.0 India 117.5 120.7 847.2 813.7 TOTAL 191.8 193.3 1505.0 1506.1Forthcoming auction quantities (pkgs) Week 50 Week 51 Week 52 Week 01 Mombasa 142,561 143,332No sale133,654 Blantyre 4,660   6,300No saleN/A Colombo 7.6 m.kgs 7.4 m.kgs N/A N/A Jakarta 13,580 N/A No sale N/A Kolkata 152,001 169,291 162,972 N/A Guwahati 141,213 138,589 N/A N/A MOMBASA Fair demand for 132,781 pkgs with 18%out.BP1’s irregularly firm to 8 easier, plainer firm to dearer. PF1’s firm to 4 easier, medium firm to dearer. PD’s firm to 3easier, except medium / plainer which were irregularly firm to 3 dearer following quality. D1’s firm to 5 dearer withplainer up to 10 dearer. Secondaries firm to 10 easier.UK, Pakistan, Egypt, ME, Horn of Africa, Kazakhstan operating. BLANTYRE Good demand for 3,920 pkgs with 36%outlisted and 27%remaining.BP1 firm to slightly dearer for limited quantity. Plain PF1’s firm to 13 easier, medium to best 8-15 dearer. PD / D1’s10-13 easier, color types dearer. Secondary Fngs firm. Dust up to 5 easier.RSA, UK & others selective.      2  COLOMBO Fair demand for 7.1 m.kgs with 4%unsold. Dimbulas  – BOP best firm to dearer, bottom firm to easier. BOPF Best irregularly firm to 10 dearer. N.Eliya  – BOP 20dearer, BOPF firm to 20 dearer. Uva/Udapuss  – Firm to 20 easier. Low grown   – All firm to 10 dearer. Tippies up to 50dearer. OG  – All round 5-20 dearer. Dust  – 5-10 dearer.ME, CIS, Germany, Japan active. JAKARTA  Good demand for 11,880 pkgs with 9%out. Orthodox  – Java up to 10 easier aside from BOP1/BOP/BT2/BP2/F2. Sumatra mostly firm to 6 easier, exceptBP/BOPF/BT2 which were firm to 4 dearer. CTC  – Firm to 10 easier, Fngs 3-9 dearer.CIS, local, Malaysia, UK, EU, Japan, US active. KOLKATA Fair demand for 174,857 pkgs. CTC  – Quality Assams firm, other teas irregularly easier following quality. Dooars/Cachars firm. 86%sold. Orthodox    – Whole leaf firm, others irregularly easier. 80%sold. Darjeeling  – Whole leaf dearer, Brokens/Fngs irregularfollowing quality. Dust  – Selected Assams firm, others irregularly firm with quality.Internal buyers active, exporters selective. GUWAHATI Good demand for 144,920 pkgs.Selected Assams firm to dearer, others irregularly easier with quality.Domestic buyers active. SILIGURI Good demand.Medium and plainer irregularly firm to easier.Internal buyers active. COONOOR CTC Leaf/Dust   – Barely steady.Internal buyers selective, exporters less active.C OIMBATORE Orthodox  – Firm for the limited quantity. CTC Leaf/Dust   – Market irregularly lower by 2. KOCHI 224,500 kgs Orthodox  – Steady.  72,500 kgs CTC  – Medium smaller brokens and Fngs firm, others irregularly easier with quality.  CHITTAGONG Fair demand for 47,006 pkgs.Good types 5-7 dearer, remainder firm.Local packers and loose trade active. All price movements quoted in US$ per kilo.
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