Colombo Tea Auction this week sees higher offering but lower demand

Sale No. 20 that concluded this week had on offer a relatively large volume of tea, comprising 6.4 million kilogrammes.

There was less demand and a firm to easier trend in prices, perhaps a combination of lower quality, against the backdrop of increased availability, Forbes and Walker Tea Brokers said.

The Ex-Estate offerings too recorded an increase and totalled 0.9 million kilogrammes vis-à-vis an average 0.7 million kilogrammes on offer over the past several weeks. 

A general decline in the quality of offerings was evident and consequently, the teas in the high-price bracket in particular declined by a greater margin. The clean leaf teas declined though to a lesser extent, amidst the general weak market sentiment.  

A small selection of well-made High and Medium Grown CTC PF1s continued to sell well, whilst the corresponding Low Grown varieties declined by up to Rs.100 per kilogramme. 

The Low Growns comprised of 2.86 million kilogrammes. The Leafy and Semi-Leafy categories met with less demand, whilst the Tippy category met with good demand.

In the Leafy and Semi-Leafy catalogues, high-priced BOP1s were easier, whilst the balance sold around last levels. The OP1s were lower. The OP/OPAs, in general, were firm to easier. The PEK/PEK1s were irregular and mostly lower. 

In the Tippy catalogues, the Select Best FBOPs were firm to dearer, whilst the balance sold around last levels. Few Select Best FF1s were firm, whilst the balance together with the Best was easier. However, the clean leaf Below Best together with the clean leaf teas at the bottom sold around last levels, whilst the balance eased. 

In the Premium catalogues, the Very Tippy teas met with good demand and were dearer. The Best and Below Best too appreciated to a lesser extent, whilst the balance sold around last levels.