Colombo Tea Auction ends final sale for 1Q23 with good general demand

The final sale for 1Q23 at the Colombo Tea Auction this week saw 5.1 MnKgs come under the hammer, which was met with good general demand.

“The firm to easier trend in prices would emanate, due to qualitative factors combined with less activity, due to the commencement of the Ramadan period and restricted purchases on account of stock taking factors, due to the end of the financial year,” said Forbes and Walker Tea Brokers in its latest tea report.
The Ex-Estate offerings comprised of a fairly similar volume and totalled 0.74 MnKgs. 

The overall quality in regard to the teas in the Western and Nuwara Eliya planting districts were barely maintained, whilst the others were fairly 

similar to last.   The Best Western BOP/BOPFs had a few select invoices, which appreciated on account of special inquiry, whilst the others were often firm and easier 
following quality.  In the Below Best category, the brighter BOPs were firm and marginally easier, whilst the others declined up to Rs.100 per kilogram. The plainer sorts declined further.  The corresponding BOPFs – whilst the brighter sorts declined up to Rs.50 per kg, the others together with the teas at the lower end of the market often sold around last week’s levels although towards the close, the prices tend to weaken marginally. The Nuwara Eliyas were irregular, following quality. The Uda Pussellawas were generally maintained. The Uva BOPs were maintained, whilst the corresponding BOPFs – majority of the teas on offer declined Rs.50-100 per kilogram. 
The CTC teas were generally firm and the price declines were reflective of quality. 

The Low Growns comprised 2.2 MnKgs. The market met with fair demand at lower levels, particularly for the well-made teas. However, the teas at the bottom continued to sell well. In the Leafy and Semi Leafy catalogues, the OP1s in general were firm. The well-made BOP1s remained firm, whilst the teas at the bottom declined. The well-made OP/OPAs in general eased, whilst the teas at the bottom were firm. However, the smaller OP varieties declined substantially. The PEK/PEK1s, in general, declined.

In the Tippy catalogues, the well-made FBOP/FF1s together with the Below Best were easier, whilst the teas at the bottom sold around last levels.  In the Premium catalogues, the high-priced Tippy teas were firm on special inquiry, whilst the others in general were lower. However, the leafier varieties were firm to dearer.

“The feature of the sale would be the widespread demand for the teas at the lower end and the firm to dearer trend in prices,” Forbes and Walker Tea Brokers said.