Good general demand at firm rates at tea auction this week

• 5.9 MnKgs under hammer this week

The Colombo Tea Auction saw good general demand at firm to easier rates this week and the offering increased by 0.82 MnKgs to 5.9 MnKgs.

The latest tea auction report by Forbes and Walker Tea Brokers said that once again, the better teas continued to sell well, whilst the others weakened further.

Best Western BOPs – Select Best invoices were firm and Rs.30-50 per kg dearer, whilst the others together with teas in the Below Best category declined by a similar margin and more for the Plainer sorts. Corresponding BOPFs were irregular and declined up to Rs.100 per kg. Teas in the Below Best and Plainer categories declined Rs.150-200 per kg. Nuwara Eliya BOPs sold well, while the corresponding BOPFs were irregular. Uva/Uda Pussellawa BOPs declined Rs.200-300 per kg, whilst the corresponding BOPFs declined up to Rs.200 per kg and more following quality.  

High and Medium Grown CTC teas in comparison sold better and often declined by a much lesser margin. Corresponding Low Grown types continued to sell well and here again, the prices were discounted by a relatively smaller margin.

Low Growns comprised of 2.4 M/Kgs in the Leafy/Semi Leafy and Tippy catalogues. Well-made teas together with cleaner secondaries met with good demand and were firm to selectively dearer, whilst the balance was irregular following quality. Shippers to Iran operated aggressively, whilst Russia and Turkey were selective.

In the Leafy and Semi Leafy catalogues, select Best BOP1/OP1s were fully firm, whilst the Below Best varieties, which commenced firm, declined following quality towards the close of the sale. Poorer sorts were barely steady. Well-made OP/OPAs in general were fully firm to dearer, whilst the Below Best varieties and poorer sorts were barely steady. Well-made PEK/PEK1s, which commenced firm, were marginally easier towards the latter part of the sale. Prices were easier for others and mixed varieties. In the Tippy catalogues, well-made FBOP/FF1s were firm to dearer, whilst the cleaner secondaries and cleaner teas at the bottom appreciated. Balance was firm.

In the Premium catalogues, very Tippy teas continued to attract good demand. Best sold around last levels. Cleaner Below Best and cleaner teas at the bottom appreciated, whilst the balance was irregular following quality. Nevertheless, leafier varieties, in general, were dearer.