Fair demand and stable prices in dollar terms at Colombo Tea Auction this week

The auction offerings were marginally lower and totalled 5.7 million kilogrammes, compared to the 5.9 million kilogrammes on offer the previous week. 
There was fair demand and relatively stable prices in dollar term, whilst the rupee tea prices tend to weaken and more so as the sale progressed, perhaps against the backdrop of strengthening of the Sri Lankan rupee. 
The Ex-Estate offerings totalled 0.71 million kilogrammes and here again, marginally lower to the 0.78 million kilogrammes on offer the previous week. The overall quality of teas on offer showed no significant change, although a selection of teas from the West slopes showed some improvement compared to the 
previous week. 

The Best Western BOPs – a few select invoices, appreciated, following quality, whilst the others were irregular and Rs.20-40 per kilogramme easier. The corresponding BOPFs, where quality was maintained, sold around last week’s levels, with a few select invoices appreciating in value. 
In the Below Best category, the BOPs in the higher price bracket were barely maintained, whilst the others together with the teas at the lower end of the market were irregular, with only select invoices appreciating marginally in value. The corresponding BOPFs were irregular and barely steady with closing levels recording a 
weaker trend. 
The Nuwara Eliyas were mostly unsold perhaps against the backdrop of relatively uninteresting quality. The Uda Pussellawas sold around last week’s levels, often recording the prices at the lower end of the market. The Uvas – a small selection of tea, continued to sell at a premium. The other BOPs were generally firm and the corresponding BOPFs showed an improvement on last for select invoices, following quality, whilst the balance sold around last week’s levels.      
The overall price structure for the CTC teas showed no significant change. 
Selective buying from the shippers to the UK and South Africa was seen, whilst fair activity was observed from Japan, Hong Kong and the CIS on a wider cross-section of the teas.  
The Low Growns comprised of 2.3 million kilogrammes. The Leafy, Semi-Leafy and Tippy categories met with fair demand, whilst the Premium category met with 
less demand.
In the Leafy and Semi-Leafy catalogues, the well-made BOP1s were firm, whilst the Below Best varieties appreciated. The balance sold around last levels. The high-priced OP1s were firm, whilst the balance appreciated. The well-made OPs sold around last levels, whilst the Below Best were easier. The balance sold around last levels. The OPs, in general, eased. The PEKs were lower, whilst the clean leaf teas at the bottom gained. The PEK1s were fully firm.
The FBOPs, in general, were firm. The Select Best and Best FF1s were firm to easier, whilst the balance sold around last levels.
In the Premium catalogue, a few high-priced invoices were firm on special inquiry, whilst the others 
declined sharply.