Colombo Tea Auction sees 4 MnKgs under hammer this week

The Colombo Tea Auction that concluded this week was a one-day restricted sale, with a total volume of 4.0 million kilogrammes on account of the intervening holidays. Overall, an irregular market trend was observed.  

The Ex-Estate offerings too recorded a decline and totalled 0.6 million kilogrammes, down from the 0.7 million kilogrammes on offer the previous week. The overall quality showed a decline, combined with a lesser availability of teas in the higher quality bracket.  

The Best Western BOP/BOPFs continued to weaken by up to Rs.50 per kilogramme, on average. The teas in the Below Best and Plainer categories commenced on a hesitant note and were Rs.20-30 per kilogramme lower on last, whilst it was encouraging to note a gradual firming up of prices as the sale progressed. The Nuwara Eliya BOP/BOPFs met with less activity and here again, would be related to quality. The Uda Pussellawas selling at the lower end showed a slight appreciation, whilst the Uvas delivered mixed results.     

The High and Medium Grown CTC teas were irregular and barely steady on last levels, whilst the corresponding Low Grown types continued to be buoyant. 

There was selective interest from the shippers to the UK and South Africa, whilst the shippers to Japan and the CIS continued to operate fairly strongly.  

The Low Growns comprised of 1.8 million kilogrammes. The Leafy, Semi-Leafy and Tippy categories met with fair demand.

In the Leafy and Semi-Leafy catalogues, the well-made BOP1s were firm, whilst the balance was irregular. The OP1s were firm. The Select Best OPs declined, whilst the balance sold around last levels. The OPAs, in general, were firm. The Select Best PEK/PEK1s appreciated, whilst the balance was firm on last.

The Select Best FBOPs were firm, whilst the Best together with the clean leaf Below Best and bolder varieties were firm to dearer. 

The balance sold around last levels. The well-made FF1s were firm, whilst the cleaner Below Best and clean leaf teas at the bottom were firm to dearer. The balance was irregular, following quality.

In the Premium catalogue, the Very Tippy teas met with good demand and were dearer. The Best together with the clean leaf Below Best too appreciated, whilst the balance was firm on last.