Offering increases at Colombo Tea Auction this week

The auction offerings showed a further increase this week and totalled 5.9 million kilogrammes.
The Leafy/Low Grown teas met with fair demand at irregular rates. The High and Medium BOP/BOPFs encountered a weak demand and consequently, there was an increased volume of unsold teas. 
The Ex-Estate offerings totalled 0.8 million kilogrammes, marginally lower than the previous week’s offerings of 0.9 million kilogrammes.  
The overall quality of the Westerns together with the Nuwara Eliyas was irregular, whilst the Uva/Uda Pussellawas were barely maintained. Much less demand and a fairly sharp decline in the prices for the teas in the higher price bracket were seen. Consequently, the prices in the Best Western category eased by up to Rs.50-100 per kilogramme. At the lower end of the market, the prices settled around last week’s closing levels and here again, selective buying with the poor leaf/thin liquoring teas was often neglected. 
Following the selective buying pattern, a fairly large volume of teas failed to attract any bids and hence, remained unsold, in addition to the volume of tea that was withdrawn, following the lower bids.    

The High and Medium Grown CTC teas too followed a similar trend of lower prices, with the exception of the Best available, which continued to be maintained around last week’s levels. The corresponding Low Grown varieties – PF1s, sold around last week’s levels, whilst the BP1 grade was neglected, with most teas on offer remaining unsold.  
The Low Growns comprised of 2.5 million kilogrammes. All categories met with fair demand although the teas in the Semi-Leafy and Tippy catalogues witnessed a declining trend in prices.
In the Leafy and Semi-Leafy catalogues, the well-made BOP1s together with the teas at the bottom were firm, whilst the balance declined. The high-priced OP1s were firm, whilst the balance was easier. The well-made OP/OPAs together with the shorter OP varieties were easier, whilst the balance sold around last levels. The Select Best PEKs were firm, whilst the balance declined substantially. The well-made PEK1s were firm to selectively dearer, whilst the balance was irregular, following quality.
A few Select Best FBOPs sold around last levels, whilst the balance in general declined. The well-made FF1s sold around last levels, whilst the clean leaf Below Best together with the clean leaf teas at the bottom were firm to selectively dearer. The balance was easier, following quality.
In the Premium catalogue, the Very Tippy teas were firm to easier. The Best together with the cleaner Below Best and the cleaner teas at the bottom sold around last levels, whilst the balance was easier, following quality.