Decline in auction quantities at Colombo Tea Auction this week

A total of 5.4 MnKgs came under the hammer at the Colombo Tea Auction this week, which had a good demand in the backdrop of declining auction quantities.

The Ex-Estate offerings totalled 0.56 MnKgs, marginally below previous week’s offerings. The quality of teas showed an improvement and combined with the sharp decline in availability, the prices for most teas on offer appreciated by up to Rs.100 per kg and more for select invoices, particularly as the sale progressed. 

The CTC teas followed a similar trend for its PF1 grade, whilst the BP1 grade encountered a bearish sentiment.  In the Off Grade catalogue, liquoring teas suitable for tea bags, which commenced firm on last week’s levels, too appreciated in value, whilst other Leafy Off Grades together with the poorer sorts were irregular and met with selective interest.

The well-made primary Dust continued to sell well, whilst the secondaries and poorer sorts lost out in value.  Low Growns comprised 2.3 MnKgs in the Leafy/Semi Leafy and Tippy catalogues. There was improved demand overall. The well-made teas together with the cleaner Below Best and cleaner teas at the bottom continued to sell well, whilst the balance was firm. Shippers to Iran and Russia continued to operate aggressively.

In the Leafy and Semi Leafy catalogues, select Best BOP1/OP1s maintained, whilst the improved Below Best varieties together with a range of poorer sorts gained. The well-made OP/OPAs in general were fully firm to dearer, whilst the others and poorer sorts too gained to a lesser extent. PEK/PEK1s, in general, were fully firm.

In the Tippy catalogues, the well-made FBOP/FF1s were firm selectively dearer, whilst the cleaner Below Best and cleaner teas at the bottom appreciated. The balance was firm on last.  In the Premium catalogues, very Tippy teas continued to attract good demand. Best and cleaner Below Best were firm to dearer, whilst the balance was irregular following quality.