Bearish market sentiment at Colombo Tea Auction this week

The 30th sale of the year, concluded this week, had on offer a total of 5.8 million kilogrammes.
The bearish market sentiment was perhaps on account of the marginal strengthening of the Sri Lankan rupee, Forbes and Walker Tea Brokers said.
The Ex-Estate offerings totalled 0.85 million kilogrammes, marginally higher than the previous week. The overall quality of teas on offer showed no significant change. 
Improved activity for a selection of teas in the Best and Below Best categories was seen, following quality, whilst the prices for the teas at the lower end of the market continued to remain around last week’s levels. Once again, the Nuwara Eliyas had hardly any availability of the BOP/BOPFs. The Uda Pussellawas were barely maintained. The Uva – the limited availability of the BOPs, appreciated by Rs.80-100 per kilogramme, whilst the corresponding BOPFs continued to sell around last week’s levels.    

The High and Mid Grown CTC teas witnessed less demand all round. The BP1s were mostly unsellable, whilst the PF1s declined by Rs.20-40 per kilogramme and more for the poorer types. In the Low Grown segment, here again the BP1s – a majority of the teas, remained unsold, due to a lack of any suitable bid, whilst the PF1s gained by Rs.40 per kilogramme and more for select invoices, following quality. 
Following the dry spell, the teas from the Eastern sector are likely to show an improvement in quality from sale No. 32 onwards and it is envisaged that the Uva Quality Season would be short, considering the current climatic conditions experienced in the region.    
The Low Growns comprised of 2.4 million kilogrammes. The Leafy, Semi-Leafy and Tippy categories met with fair demand. 
In the Leafy and Semi-Leafy catalogues, the BOP1s in general, maintained. The high-priced OP1s were easier, whilst the balance was fully firm. The well-made OP/OPAs were selectively dearer, whilst the balance maintained. The Select Best PEKs were firm. The Best together with the Below Best were firm, whilst the bolder varieties appreciated. The balance sold around last levels. The PEK1s, in general, were lower.
The Select Best FBOPs were firm, whilst the others in general were lower. A few Select Best FF1s sold around last levels, whilst the balance declined. 
In the Premium catalogues, the Tippy teas declined substantially and were mostly were unsellable, due to a lack of suitable bids, whilst a few clean leaf Below Best sorts were firm. The balance declined.