Reply To:
Name - Reply Comment
Last Updated : 2024-05-05 17:57:00
Prices at the Ceylon Tea auction remained largely unchanged this week although an impact was expected due to the ongoing conflict between Russia and Ukraine.
However, reports from tea brokers stated that a degree of uncertainty and volatility in the future would no doubt be a concern for the Sri Lankan tea sector considering the Ceylon Tea’s presence in both of the markets.
“Undoubtedly trading conditions are likely to be strained and additional war risk surcharges would further escalate the high logistics rates, which have already adversely impacted tea prices,” said Forbes and Walker Tea Brokers in their latest tea auction report.
The Colombo Tea Auction this week saw a sharp decline in the offering. A total of 4.9 MnKgs came under the hammer, a significant dip from the 6 MnKgs that were offered the previous week.
Ex-Estate offerings comprised 0.81 MnKgs, down from 0.98 MnKgs the previous week.
Overall quality of teas from the Western planting districts showed a decline with fewer seasonal teas on offer. Consequently, prices for the better Westerns’ declined by Rs.20-30 per kg and more with the exception of ta few available seasonal teas which continued to sell in keeping with quality.
High and Medium Grown CTC teas continued to witness a bearish sentiment. The Low Growns, which have been selling at premium levels for a period of time, declined fairly sharply by Rs. 30-60 per kg.
Low Growns comprised 1.9 MnKgs in the Leafy/Semi Leafy and Tippy catalogues.
In the Leafy and Semi Leafy catalogues, Select Best BOP1/OP1’s together with clean Below Best varieties maintained, whilst the others were barely steady.
In the Tippy catalogues, select Best FBOP/ FF1’s were firm to marginally easier, whilst the Best together with cleaner Below Best sold around last levels. Balance declined following quality.
In the Premium catalogues, Very Tippy teas continued to attract good demand. Best together with cleaner Below Best were firm, while the balance was irregular following quality.
Add comment
Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.
Reply To:
Name - Reply Comment
US authorities are currently reviewing the manifest of every cargo aboard MV
On March 26, a couple arriving from Thailand was arrested with 88 live animal
According to villagers from Naula-Moragolla out of 105 families 80 can afford
Is the situation in Sri Lanka so grim that locals harbour hope that they coul
53 minute ago - 0 - 225