Offerings at Colombo Tea Auction continue to remain grim

The offerings at the Colombo Tea Auction continued to record a further decline. This week’s auction quantities totalled 4.2 MnKgs, of which Ex-Estate offerings comprised of 0.6 MnKgs. The offerings met with good demand. 
In the Ex-Estate catalogues, the overall quality of teas showed no appreciable change. The latest tea report by Forbes and Walker Tea Brokers stated there was good demand in the backdrop of extremely low volumes. 

The Western BOP/BOPFs were mostly firm with the exception of a few select invoices, particularly in the Best category, appreciating following special inquiry. The Nuwara Eliyas were irregular and mostly showed a dearer trend though the prices were irregular amongst consecutive invoices following quality. The Uva/Uda Pussellawas were generally firm and price variances were often reflective of quality with the exception of Select Best Uva BOPFs, which were firm and up to Rs.50 per kg dearer. 

The CTC teas, in general, were mostly firm. The most regular buyers were active, with perhaps a slightly more forceful trend from the local trade. 

The Low Growns comprised 1.8 MnKgs. The market met with improved demand, in general. 

In the Leafy and Semi Leafy catalogues, the select Best BOP1/OP1s were fully firm, whilst the Below Best/Bolder BOP1s were barely steady. The corresponding OP1s met with improved demand. The well-made OP/OPAs in general were fully firm, whilst the Below Best varieties and poorer sorts met with improved demand. The PEK/PEK1s in general were fully firm to selectively dearer.

In the Tippy catalogues, the well-made FBOP/FF1s sold around last levels, whilst the cleaner Below Best and cleaner teas at the bottom appreciated. The balance too was dearer to a lesser extent.

In the Premium catalogues, the very Tippy teas continued to attract good demand. The Best were firm to selectively dearer, whilst the Below Best and cleaner teas at the bottom appreciated.