Colombo Tea Auction sees volumes contract this week

The offering at the Colombo Tea Auction this week totalled 4.7 million kilogrammes, which was a significantly lower volume from the 5.8 million kilogrammes on offer the previous week. 
Once again, notwithstanding the volatility and appreciation of the Sri Lankan rupee vis-à-vis the US dollar, the tea prices remain reasonably strong, perhaps in the backdrop of declining volumes, Forbes and Walker Tea Brokers said. The Ex-Estate offerings totalled 0.67 million kilogrammes, down from 0.86 million kilogrammes the previous week. 
The overall quality did not show any significant improvement, although the better Western BOP/BOPFs appreciated selectively, following quality. The teas in the Below Best and Plainer categories met with less interest and a firm to easier trend in prices was often realised. The teas from the Eastern sector too followed a firm to easier trend, with the exception of a few select invoices that appreciated on account of special inquiry.  
The CTC teas continued to witness a fairly strong demand and consequently, a firm market, where quality was maintained. The limited availability of liquoring Leafy teas on offer continued to attract a fairly good demand, with most teas selling between Rs.1,600-1,900 per kilogramme.  
Once again, there was selective interest from the shippers to the UK and continent. Improved activity from the main shipper to South Africa was seen, whilst the shippers to Japan, China and the CIS continued to be reasonably active. 

The Low Growns comprised of 2.31 million kilogrammes. The Tippy and Leafy categories met with fair demand, whilst the Semi-Leafy category met with less demand. 
In the Leafy catalogues, the well-made OP1s maintained, whilst the balance was firm to dearer. The BOP1s, in general, were easier. The OPs sold around last levels. The well-made OPAs were easier, whilst the balance was fully firm. The PEK/PEK1s continued to decline.
In the Tippy catalogues, the Select Best FBOPs were firm to selectively dearer, whilst the balance together with the Best and Below Best was easier. However, the teas at the bottom were fully firm. The well-made FF1s declined. The Clean Leaf Below Best and Clean Leaf teas at the bottom were firm, whilst the balance was irregular.
In the Premium catalogues, the very Tippy teas met with fair demand. The Best and Below Best sold around last levels, whilst the balance was irregular.