Colombo Tea Auction sees 5.46 MnKgs under hammer this week

The Colombo Tea Auction saw the 25th sale of the year come to a close this week, where a total of 5.46 Mnkgs came under the hammer.

In the backdrop of limited availability and continued decline in auction volumes, there was improved widespread demand, the auction report by Forbes and Walker Tea Brokers said.

The Ex-Estate offerings declined to 0.6 MnKgs, from a 0.8 MnKgs in the previous week. There was a strong demand for teas in the Below Best and Plainer categories. 

In the Ex-Estate catalogues, Best Western BOPs were mostly firm, with only a few select invoices gaining Rs.50-100 per kg, following special inquiry. The corresponding BOPFs were mostly firm and tend to fluctuate following quality. 

In the Below Best category, coloury BOPs gained Rs.100-200 per kg, whilst the corresponding BOPFs gained Rs.80-100 per kg and more for select invoices. At the lower end, BOPs gained Rs.50-100 per kg, whilst the corresponding BOPFs gained Rs.80-100 per kg. 

The limited availability of Nuwara Eliya BOP/BOPFs continued to sell well at very attractive levels. Uva/Uda Pussellawa BOPs – select high priced teas of last week were Rs.20-40 per kg lower, whilst the others sold around last week’s levels. The corresponding BOPFs – Uda Pussellawa gained up to Rs.200 per kg, whilst the Uva appreciated up to Rs.100 per kg. 

High and Medium Grown CTC – BP1s were irregular. PF1s – High Growns were Rs.20-40 per kg dearer, whilst the Medium Growns – select coloury sorts were Rs.50-100 per kg dearer. Others were firm and dearer to a lesser extent. Low Grown CTC – BP1s gained up to Rs.100 per kg, whilst the PF1s gained Rs.100-200 per kg. 
Low Growns comprised of 2.2 MnKgs in the Leafy/Semi Leafy and Tippy catalogues. There was improved demand and the market continued to appreciate further. Well-made teas together with cleaner secondaries appreciated, whilst the balance was easier following quality. Shippers to Iran, Russia and Turkey continued to operate aggressively.

In the Leafy and Semi Leafy catalogues, select Best BOP1/OP1s maintained, whilst improved/clean Below Best varieties gained. Others and poorer sorts too were fully firm to dearer. Well-made OP/OPAs in general were fully firm to selectively dearer, following quality, whilst the poorer sorts declined and remained unsold, due to lack of suitable bids. Well-made PEK/PEK1s in general were fully firm to selectively dearer, whilst the poorer sorts were barely steady.

In the Tippy catalogues, well-made FBOP/FF1s together with the cleaner Below Best were substantially dearer, whilst the balance was firm.

In the Premium catalogues, very Tippy teas continued to attract good demand and were substantially dearer. Best and cleaner Below Best too appreciated to a lesser extent, whilst the balance sold around last levels. 
Off Grades and Dust varieties too were dearer by Rs.30-50 per kg and more.