Quantities at the Colombo Tea Auction remained steady this week with a total of 6.6 M/Kgs coming under the hammer.
The quantity which was similar to the 6.5M/Kgs auctioned last week met with fair demand whilst majority of the teas on offer witnessed an easier trend.
A market report by Colombo Tea Brokers showed that while ex-estate offerings comprised of 1.1 M/Kgs and met with lower demand, its quality showed a decline from last week’s levels.
However, the overall quality of teas from the Western planting districts was improved whilst teas from the Eastern sector mostly remained unchanged.
Select Best Western BOP/BOPF’s where quality was improved appreciated irregularly following airmail inquiry whilst the others declined Rs. 10-20/- per kg and more for last week’s high priced teas.
In the below best category, select improved BOP’s was said to have gained Rs. 10-20/- per kg whilst the corresponding BOPF’s were mostly lower by similar margin. Plainer BOP’s were barely steady whilst the corresponding BOPF’s often declined Rs. 10/- per kg and more particularly towards the close. Showing fair demand was low growns that comprised of approximately 3.3M/kgs in the Leafy/ Tippy catalogues. In the Leafy catalogue BOP1/OP1’s were fully firm with a selection of improved sorts gaining on last.
Better OP/OPA’s sold around last levels, although below best types were marginally easier. At the lower end however prices were fully firm to dearer.
Better PEK/PEK1’s were mostly irregular and lower to last. Here again at the lower end prices were fully firm to dearer. In the Tippy catalogue a few select best FBOP/ FF1’s maintained last levels. At the lower end prices were said to be generally easier to last.
In the Premium catalogues, prices were mostly lower to previous particularly for the small leaf teas. At this week’s sale shippers to CIS, Dubai, Turkey, Iraq, Saudi Arabia and Kuwait were active.