Colombo Tea Auction sees offerings dip this week

• Offerings contract to 5.74 MnKgs
• Further decline seen in volumes recorded in upcoming sales
• Quality remains unchanged

The offerings at the Colombo Tea Auction contracted to 5.74 million kilogrammes this week, with a further decline in volumes recorded in the forthcoming sales.

Improved activity from the shippers to Iran combined with the sharply declining volumes perhaps triggered stronger prices, said Forbes and Walker Tea Brokers.

The Ex-Estate offerings too declined to 0.78 million kilogrammes, from 0.84 million kilogrammes on offer the previous week.

“The quality of offerings showed no significant change, whilst the prices appreciated in the backdrop of declining volumes,” said the brokers.

The Best Western BOP/BOPFs, where quality was maintained, gained by Rs.50-100 per kilogramme, whilst the others sold around last week’s levels. In the Below Best category, the clean leaf BOP/BOPFs appreciated up to Rs.100 per kilogramme, whilst the others together with the teas at the lower end of the market were often firm and dearer to a lesser extent. The Nuwara Eliyas met with a bearish sentiment.

The Uda Pussellawas – Better teas, appreciated up to Rs.50 per kilogramme, whilst the others were firm and dearer to a lesser extent. The Uva seasonal teas continued to sell reasonably well, with improved activity for the BOPF grade.

The prices for these season teas – BOPs, ranged between Rs.1,300-2,750 per kilogramme and the BOPFs ranged between Rs.1,400-2,300 per kilogramme. The other non-seasonal Uvas continued to sell around last week’s levels.

The High and Mid Grown CTC BP1s were firm and dearer by Rs.20-30 per kilogramme and up to Rs.100 per kilogramme, respectively. The corresponding PF1s, High Growns – Better sorts, gained up to Rs.100 per kilogramme, whilst the others sold around last week’s levels. The Mid Grown varieties – Better sorts, were up to Rs.50 per kilogramme dearer, whilst the others sold around last week’s levels. The Low Growns – BP1s, met with less demand, whilst the PF1s gained Rs.100 per kilogramme and more for select invoices.

The Low Growns comprised of 2.3 million kilogrammes. The Leafy, Semi-Leafy and Tippy teas met with good demand. Improved activity was seen from the shippers to Iraq and Turkey. In the Leafy catalogues, the select Best OP1/ BOP1s were firm, whilst the balance gained. The OP/OPAs, in general, were firm to dearer. The well-made PEK/PEK1s were firm, whilst the balance met with improved demand. However, the mixed varieties were irregular.

In the Tippy catalogues, the select Best FBOPs were firm, whilst the balance appreciated. However, the bolder varieties sold at last levels. The wellmade FF1s gained substantially, whilst the balance too was dearer to a lesser extent.

In the Premium catalogues, the very Tippy teas met with good demand and were dearer, whilst the balance too appreciated. However, the teas at the bottom were firm.