Offering limited to 4.7 MnKgs at this week’s Colombo Tea Auction

The Colombo Tea Auction saw the offering limited to a mere 4.7 MnKgs this week. 

Notwithstanding the lower volume, the Large Leaf teas encountered a bearish market sentiment, with certain categories of tea witnessing a price correction.  

The latest tea auction report by Forbes and Walker Tea Brokers stated that the ex-estate offerings were limited to 0.6 MnKgs. 

The overall quality of the offerings was somewhat improved, particularly for a selection of Westerns, whilst the teas from other growing regions were fairly 
similar to last.   

The Best Western BOPs, where improved, were firm and up to Rs.50 per kg dearer, whilst the others were firm and lower by a similar margin. The corresponding BOPFs sold around last week’s levels although some price fluctuations were evident following quality. 

In the Below Best category, a selection of improved BOPs appreciated Rs.50-100, whilst the others together with the Plainer sorts were barely steady. The corresponding BOPFs continued to sell around last week’s levels. The Nuwara Eliya BOP/BOPFs had hardly any offerings. The Uda Pussellawas were irregular following quality. The Uvas mostly sold around last week’s levels, with a few price fluctuations reflective of quality. 

The High and Medium CTCs – BP1s had hardly any offerings.
The PF1s – Better sorts were firm, whilst the others were irregular and easier following quality. The Low Grown varieties were mostly firm; however the poorer sorts were neglected and difficult of sale. 

The Low Growns comprised of 2.0 MnKgs in the Leafy/Semi Leafy and Tippy catalogues. The market continued to decline with the shippers to Iran and Russia operating selectively.  In the Leafy and Semi Leafy catalogues, the Select Best BOP1/OP1s declined, whilst a selection of improved Below Best varieties maintained. Others and the poorer sorts, though irregular, were firm. The well-made OP/OPAs commenced firm though declined marginally towards the closure of the sale. The teas at the bottom end were fully firm to selectively dearer. The PEK/PEK1s, in general, were fully firm.  In the Tippy catalogues, the well-made FBOPs together with the Below Best declined. However, the teas at the bottom sold around last levels. The well-made FF1s were easier, whilst the cleaner Below Best and cleaner teas at the bottom sold around last levels. The balance was irregular.

In the Premium catalogues, the very Tippy teas together with the Best varieties declined. Few cleaner Below Best and cleaner teas at the bottom were firm, whilst the balance eased.