Offering at Colombo Tea Auction dips due to work stoppage for Deepavali

The offering at the Colombo Tea Auction this week declined, with only 4.3 MnKgs coming under the hammer.
The dip in auction volumes was attributed to the work stoppage on account of the Deepavali holidays during end-October. 

The latest tea report by Forbes and Walker Tea Brokers said the extremely low volumes on offer this week and their continuation over the next couple of weeks perhaps triggered the additional buying interest. 

The Ex-Estate offerings too were lower and comprised a very small quantity of 0.54 MnKgs. 
The quality of offerings was relatively uninteresting and consequently, the select useful liquoring teas, 

particularly in the Best Western category, tend to appreciate Rs.50-100 per kg. Majority of the other Western BOP/BOPF sold around last week’s levels, with a few select invoices appreciating, following special inquiry. The Nuwara Eliyas had limited offerings. The Uda Pussellawas continued to sell around last, although the prices were irregular, following quality, whilst the Uvas were mostly firm.  The High and Medium CTCs – BP1s had hardly any offerings, whilst the PF1s were once again firm with a few select invoices appreciating in value. The Low Grown types also followed a similar trend. 

The Low Growns comprised 1.9 M/kgs.
In the Leafy and Semi Leafy catalogues, the Select Best BOP1/OP1s were fully firm, whilst a range of improved Below Best varieties gained. The teas at the lower end too were fully firm. The well-made OP/OPAs met with improved demand, following special inquiry, whilst the others and poorer sorts maintained. The PEK/PEK1s, in general, were fully firm to selectively dearer, following quality.In the Tippy catalogues, the well-made FBOP/FF1s together with the Below Best appreciated, whilst the balance too was dearer to a lesser extent.In the Premium catalogues, the very Tippy teas were substantially dearer. The Best and Below Best together with the cleaner teas at the bottom too appreciated to a lesser extent. The balance was firm.