Offerings at Colombo Tea Auction remain low

• A total of 5.0 MnKgs come under hammer
• Quantities relatively low when compared with auction volumes in 2022 and 2021, where quantities recorded 6.0 MnKgs and 6.1 MnKgs 

The Colombo Tea Auction saw 5.0 MnKgs come under the hammer this week that was met with fair general demand often at irregular rate. 

When compared with the offerings in the preceding years of 2022 and 2021, which recorded auction volumes of 6.0 MnKgs and 6.1 MnKgs, this week’s volume was relatively low, Forbes and Walker Tea Brokers said. 
This week’s auction saw the Ex-Estate offerings comprise of 0.74 MnKgs, with the overall quality of teas being barely maintained. 

In the backdrop of limited availability, the Best Western BOP/BOPFs continued to sell well, with the select invoices appreciating by up to Rs.100 per kg and more following special inquiry. 

The teas in the Below Best category were barely steady and an irregular pattern was observed, partially following qualitative variances.  

The teas at the lower end of the market continued to sell well around last and encountered fairly widespread interest. The Nuwara Eliya BOPs, which were limited on offer, appreciated marginally in value, whilst there were hardly any corresponding BOPF invoices on offer. The Uda Pussellawas were irregular and mostly sold around last. The Uva BOPs were firm, whilst the corresponding BOPFs declined up to Rs.50 per kg.  

The CTC teas sold around last week’s levels, in general, with the Low Grown varieties encountering a slight bearish trend and on average, Rs.50 per kg easier.  

Improved activity was seen from the UK and Japan for the better liquoring teas, whilst there was wider participation for the teas in the Below Best and Plainer categories from the Russian sector, in addition to some interest from South Africa as well.    

The Low Growns comprised of 2.3 MnKgs. The Leafy and Semi Leafy catalogues met with fair demand, whilst the Small Leaf varieties continued to decline. The shippers to Iran and Turkey were selective, whilst the shippers to Russia continued to be active.

In the Leafy and Semi Leafy catalogues, a selection of well-made OP1s was firm, whilst the balance was easier. The Below Best and cleaner teas at the bottom sold around last levels. The Select Best BOP1s declined. However, the Below Best and teas at the bottom were firm. A selection of well-made OP/OPAs was firm to selectively dearer, whilst the balance eased. The teas at the bottom appreciated. The PEK/PEK1s, in general, were easier.

In the Tippy catalogues, the well-made FBOPs were easier, whilst the cleaner Below Best together with the cleaner teas at the bottom sold around last levels. The balance was easier. The well-made FF1s were lower, whilst a few cleaner Below Best sold around last levels. The balance too declined.

In the Premium catalogues, a selection of very Tippy teas together with the cleaner Below Best sold around last levels, whilst the balance was irregular.