Tea auction sees good demand amidst currency volatility

This week’s Colombo Tea Auction saw 5.14 million kilogrammes come under the hammer, which was met with fair demand, amidst the instability and volatility in the currency, Forbes and Walker Tea Brokers said.
The Ex-Estate offerings comprised of 0.85 million kilogrammes. The overall quality of teas from the Western slopes together with the Nuwara Eliyas were reasonably maintained though irregular, whilst the Uva/Uda Pussellawas were fairly similar and mostly comprised of fair average quality teas. 
The Best Westen BOP/BOPFs, where quality was maintained, were firm and selectively dearer, whilst the others were often irregular and easier. In the Below Best category, the select improved BOPs gained by Rs.50 per kilogramme and more following special inquiry, whilst the others continued to sell around last week’s levels. At the lower end of the market, the coloury BOPs gained by Rs.50 per kilogramme, whilst the others continued to sell around last week’s levels. 

The corresponding BOPFs, here again, a selection of improved teas, were firm and dearer, whilst the others together with the teas at the lower end of the market, which were firm and easier, appreciated selectively towards the close. The Nuwara Eliyas sold firm and were up to Rs.50 per kilogramme dearer, following quality. The Uda Pussellawa BOPs were barely steady, whilst the corresponding BOPFs, which commenced firm, appreciated up to Rs.50 per kilogramme as the sale progressed. The Uva BOPs were Rs.50-70 per kilogramme easier, whilst the corresponding BOPFs were barely steady.  The High and Medium Grown CTC – BP1s were dearer, with the Select Best invoices gaining up to Rs.100 per kilogramme and more. The PF1s were mostly firm with select invoices appreciating up to Rs.50 per kilogramme. The corresponding Low Grown varieties, here again the BP1s, gained by up to Rs.100 per kilogramme, whilst the corresponding PF1s, which commenced up to Rs.100 per kilogramme easier, firmed up as the sale progressed and closed around last week’s closing levels. 
The liquoring teas were strongly competed by the shippers to Japan, South Africa and selectively by the UK and continent, whilst the tea bag sector and local trade too were fairly active together with the usual buying by China and the CIS.  The Low Growns comprised of 2.04 million kilogrammes. The Tippy and Leafy categories met with fair demand, whilst the Semi-Leafy category met with less demand. There was selective interest from the shippers to Iran, the UAE and CIS, whilst the shippers to Turkey were less active. 

In the Leafy catalogues, the high-priced OP1s were easier, whilst the balance sold around last levels. The well-made BOP1s were firm, whilst the balance declined. The OP/OPAs, in general, were lower. The PEKs were substantially lower. The well-made PEK1s together with the Below Best varieties declined, whilst the clean leaf teas at the bottom were firm.
In the Tippy catalogues, the Select Best FBOPs were firm to dearer, whilst the balance sold around last levels. However, the bolder varieties declined. The Select Best FF1s were firm, whilst the balance was easier.
In the Premium catalogues, the Tippy teas met with improved demand and in general, were dearer.