5.8 MnKgs go under hammer at Colombo Tea Auction this week

Total offering at the Colombo Tea Auction this week increased to 5.8 MnKgs, from the 5.0 MnKgs that came under the hammer the previous week.

Low Growns continued to meet with good demand, whilst the High and Medium Grown Small Leaf types witnessed a correction in prices, particularly for a cross-section of teas in the Below Best and Plainer categories, the latest tea auction report by Forbes and Walker Tea Brokers highlighted.

The Ex-Estate volumes were maintained around 0.7 M/Kgs. There was good demand for the better liquoring teas, whilst the Plainer teas met with selective and limited interest.

The Western BOPs were generally firm with the select Best appreciating following quality. Corresponding BOPFs in the higher price bracket declined up to Rs.200 per kg on last week’s closing levels, whilst the others on average declined by Rs.100 per kg. Nuwara Eliya BOPs continued to sell well, whilst the corresponding BOPFs declined up to Rs.200 per kg and were often unsold. Uva/Uda Pussellawas declined by Rs.100-150 per kg.  

High Grown CTC teas were generally maintained, whilst the prices for the Medium Grown CTC teas were irregular and often easier. Corresponding Low Grown BP1/PF1s gained up to Rs.100 per kg and Rs.200 per kg, respectively.

Low Growns comprised 2.4 M/Kgs in the Leafy/Semi Leafy and Tippy catalogues. There was good demand and the market continued to appreciate further. Shippers to Iran, Russia and Turkey continued to operate aggressively.
In the Leafy and Semi Leafy catalogues, select Best BOP1/OP1s were fully firm to dearer. Others and poorer sorts followed a similar trend, whilst select invoices were dearer following quality. Well-made OP/OPAs in general were fully firm to dearer, whilst teas at the bottom end were barely steady. Select Best PEK/PEK1s gained, whilst the Below Best varieties appreciated further. Teas at the lower end maintained.

In the Tippy catalogues, well-made FBOP/FF1s appreciated, whilst the cleaner Below Best and cleaner teas at the bottom were substantially dearer. Balance too gained to a lesser extent.

In the Premium catalogues, very Tippy teas together with the Best were firm, whilst the Below Best and teas at the bottom gained substantially.