Offering at Colombo Tea Auction increases after several weeks of depleted volumes

The offering at the latest Colombo Tea Auction increased after several weeks of depleted volumes.

The auction offering totalled 5.4 MnKgs at this week’s sale, the tea brokers said. Less demand for the Low Grown Large Leaf teas was observed, while the High and Medium Small Leaf teas continued to meet with good demand with more or less a firm trend in prices. 

The Ex-Estate offerings totalled 0.7 MnKgs and here again records a welcome improvement in the backdrop of many weeks of approximately 0.5 MnKgs offerings. 

“Notwithstanding the marginal improvement in availability, it was heartening to witness strong demand particularly for the BOP/BOPF grades, with the prices perhaps driven following the availability of a better quality product,” said Forbes and Walker Tea Brokers in its latest tea report.

In the High and Medium CTCs, a very limited availability of BP1s was observed, which were barely steady and recorded price fluctuations following quality.

The PF1s – Select Best teas, though commenced on a very positive note, eased off towards the close, whilst the other average to Plainer quality teas witnessed an easier trend. The corresponding Low Grown varieties were mostly firm for the better teas, whilst the poorer sorts were neglected and often difficult of sale. 

Improved activity from the shippers to the CIS on a wide cross-section of the offerings was seen together with Japan and other traditional markets operating 
as usual. 

The Low Growns comprised of 2.2 MnKgs in the Leafy/Semi Leafy and Tippy catalogues. Notwithstanding the lower volume, the Low Growns witnessed a sharp decline, particularly due to the shippers to Iran and Russia operating selectively. In the Leafy and Semi Leafy catalogues, the Select Best BOP1/OP1s together with a selection of improved/clean Below Best varieties maintained, whilst the others and poorer sorts were easier. A selection of well-made OP/OPAs was firm, whilst the prices declined for the others, where the quality was not maintained. The teas at the lower end maintained. The select Best PEKs together with the improved Below Best varieties were fully firm, whilst the corresponding PEK1s declined substantially. The teas at the lower end maintained.

In the Tippy catalogues, the well-made FBOP/FF1s were substantially lower, whilst a few cleaner Below Best sold around last levels. All others declined. In the Premium catalogues, a selection of very Tippy teas maintained, whilst the balance together with the Best declined substantially and were mostly unsellable, due to inadequate bids. Few cleaner Below Best sold around last levels, whilst all the others declined.