Colombo Tea Auction sees 6.76 MnKgs come under hammer this week

A total of 6.76 MnKgs came under the hammer this week at the Colombo Tea Auction; it is an increase in volume following the accumulation of tea, due to a non-closure of a catalogue during the Christmas 
holiday period. 

The offerings were met with fair general demand, mostly at firm to marginally easier rates, Forbes and Walker Tea Brokers said in its latest tea report. 

The Ex-Estate offerings comprised 0.94 MnKg. The overall quality of teas showed an improvement from the Western sector, whilst the teas from the other growing regions showed no significant change.   

The improved Westerns in the Best category were often firm and dearer, following quality/special inquiry. The teas in the Below Best category were often Rs.50 per kg easier, whilst at the lower end, the majority of the teas declined to a lesser extent. The Nuwara Eliyas were mostly unsold, whilst the Uda Pussellawas declined Rs.100 per kg and more, perhaps following relatively uninteresting quality. The Uvas were mostly firm. 

The CTC teas mostly sold around last week’s levels, with the exception of price fluctuations that were imminent following qualitative variances. 

Improved demand was seen for the better teas from the shippers to the UK, whilst the shippers to CIS continued to bid on a wide cross section of teas.

 The Low Growns comprised 3.0 MnKgs. The Leafy and Semi Leafy catalogues met with good demand, whilst the small leaf and premium catalogues continued to decline and were unsellable at times, due to the lack of sufficient bids. The shippers to Turkey and Russia were active, whilst the shippers to Iran were extremely selective.

In the Leafy and Semi Leafy catalogues, the select Best OP1/BOP1s were firm, whilst the Below Best and teas at the bottom were easier following quality. The well-made OP/OPAs were firm, whilst the Below Best varieties together with the teas at the bottom too were fully firm. The PEK/PEK1s, in general, were dearer.

In the Tippy catalogues, the FBOPs in general were easier and declined further towards the closure of the sale. The well-made FF1s together with the Below Best varieties were lower and declined further towards the closure and were mostly unsellable, due to the lack of sufficient bids. However, the teas at the bottom sold around last levels.

In the Premium catalogues, a few select Best invoices were firm on special inquiry, whilst the others declined substantially.