Tea prices edge higher on select quality

A total of 6.3 million kilogrammes (M/Kgs) were on offer this week at the Colombo Tea Auction.

The Low Grown/Leafy teas, in general, met with mixed demand, whilst the High and Mid Grown Small Leaf teas witnessed improved demand.  

The Ex-Estate offerings were marginally lower to last and totalled 0.76 M/Kgs vis-à-vis 0.8 M/Kgs on offer the previous week. The preferable quality and declining volumes perhaps triggered greater market activity and a dearer trend in the prices.  

The Best Western BOP/BOPFs gained by up to Rs.50 per kilogramme, whilst the others were irregular, following quality. In the Below Best category, the improved BOP/BOPFs gained by Rs.50 per kilogramme and more for select invoices, whilst the others were firm and dearer to a lesser extent. At the lower end, the BOPs were Rs.20-40 per kilogramme dearer with the cleaner sorts appreciating further. 

The corresponding BOPFs gained by Rs.20-40 per kilogramme, whilst the poorer sorts were firm and dearer to a lesser extent. The Nuwara Eliyas met with limited interest and a majority of the teas remained unsold. The Uda Pussellawas were weaker and barely steady. The Uva BOP/BOPFs were generally firm.  

The CTC teas, in general, were firm to marginally easier. 

Less activity was seen from the shippers to the UK, continent and South Africa. Fair demand was seen from the shippers to Japan and China, whilst the shippers to the CIS and Middle East continued to be active as usual.  

The Low Growns totalled approximately 2.6 M/Kgs. All categories met with fair demand.

In the Leafy and Semi-Leafy catalogues, the well-made BOP1s appreciated, whilst the Below Best and bolder varieties remained firm. The teas at the bottom end were irregularly easier. The well-made OP1s too were dearer, whilst the balance together with the teas at the bottom was irregular. 

The well-made OPs together with the cleaner Below Best and shorter varieties gained, whilst the others were irregular, following quality. The high-priced OPAs appreciated, whilst the balance was firm. The Select Best and Best PEKs were firm, whilst the balance, including the mixed/open varieties, were dearer. The teas at the bottom sold at last levels. The PEK1s were generally fully firm.

In the Tippy catalogue, the Select Best FBOPs were easier, whilst the Best varieties held firm. The balance was irregularly easier. The FF1s were mostly lower.

In the Premium catalogue, the very Tippy teas met with good demand and appreciated. The Best and Below Best types were firm, whilst the balance declined. However, the smaller varieties were easier.