Colombo Tea Auction sees 6.4 MnKgs offering under hammer this week

The offering at the Colombo Tea Auction this week was marginally lower than the previous week and totalled 6.42 MnKgs. 

Forbes and Walker Tea Brokers said there was fair general demand mostly at easier rates, particularly for the poorer teas.  

Ex-Estate offerings comprised of 0.94 MnKgs. Quality showed a general decline with a greater availability of the offerings comprising of fair average quality teas.  

Best Western BOPs – few select invoices were firm and Rs.20-30 per kg dearer following quality, whilst the balance declined by a similar margin and more. The corresponding BOPFs declined up to Rs.100 per kg. 

In the Below Best category, BOPs declined Rs.50-60 per kg, whilst the Plainer sorts eased further. The corresponding BOPFs declined Rs.80-100 per kg and more for select invoices following inferior quality. Nuwara Eliyas were irregular and barely steady. Uda Pussellawa BOPs were generally firm, whilst the corresponding BOPFs declined by up to Rs.100 per kg. Uva BOPs gained Rs.50-100 per kg for select invoices, whilst the corresponding BOPFs declined by Rs.50-60 per kg and substantially more for select invoices following inferior quality.    

High and Medium Grown CTC – BP1s were irregular, whilst the PF1s declined Rs.50 per kg and more. Corresponding Low Grown BP1s were substantially easier. PF1s – Better sorts were generally firm, whilst the others were irregularly easier with the poorest being difficult of sale. 

Low Growns comprised of 2.5 MnKgs in the Leafy/Semi Leafy and Tippy catalogues. Well-made teas together with the cleaner Below Best maintained, whilst the balance declined following quality. The shippers to Iran and Russia were active, whilst there was limited activity from the shippers to Iraq and Turkey. In the Leafy and Semi Leafy catalogues, select Best OP1/BOP1s were barely steady and were mostly easier, whilst the Below Best varieties and poorer sorts declined further. A selection of well-made OP/OPAs maintained, whilst the Below Best varieties, where quality was not maintained and the teas at the lower end declined. A few select Best PEK/PEK1 invoices maintained, whilst all others declined substantially and remained mostly unsold due to a lack of suitable bids.
In the Tippy catalogues, few select Best FBOPs were selectively dearer, whilst the Best, clean Below Best and cleaner teas at the bottom sold around last levels. Balance was easier following quality. Well-made FF1s together with the cleaner Below Best and cleaner teas at the bottom maintained, whilst the balance was lower following quality. 

In the Premium catalogues, very Tippy teas continued to attract good demand and were dearer. Best and Cleaner Below Best too appreciated substantially, whilst the balance too was dearer to a lesser extent.

Consequent to the increased availability of teas at the lower end of the market, all such categories of tea are recording a sharper decline in price thus, widening the parity between the better teas and their poorer counterparts.