Colombo Tea Auction sees 5.5 MnKgs come under hammer this week

The offering at the Colombo Tea Auction continued to be fairly similar to the previous couple of weeks and totalled 5.3 M/Kgs. 

The Low Growns – Semi Leafy and Small Leaf categories met with fair demand, whilst the Leafy segment was mostly easier.  

The Ex-Estate offerings comprised of 0.69 MnKgs, declining from 0.76 MnKgs on offer the previous week. The overall quality was lower and perhaps attributed to the market weakening, notwithstanding a lesser volume on offer. 

Most Western BOP/BOPFs declined Rs.50-100 per kilogram, with just a handful of invoices maintaining the previous week’s levels. The prices often weakened as the sale progressed with increasing quantities of unsold volumes. The High and Medium CTCs too were mostly easier and declined Rs.50-100 per kilogram, whilst the corresponding Low Grown PF1s eased up to Rs.200 per kilogram. 

Last week’s offerings record a significant decline and total 4.3 MnKgs following the work stoppage on account of the Deepavali holidays during end October. 

The Low Growns comprised 2.2 MnKgs. The Semi Leafy and Small Leaf categories met with fair demand and were fully firm. However, activity for the Leafy categories was selective and mostly easier.

In the Leafy and Semi Leafy catalogues, the select Best BOP1/OP1s declined substantially, whilst a selection of improved Below Best varieties maintained. Others declined further. The teas at the lower end were fully firm. A selection of well-made OP/OPAs was firm, whilst the prices were irregular and mostly easier for the others where quality was not maintained. The teas at the lower end too were barely steady. The well-made PEK/PEK1s in general were fully firm, whilst the poorer sorts were barely steady.

In the Tippy catalogues, the well-made FBOP/FF1s together with the cleaner Below Best sold around last levels, whilst the balance was irregular following quality.

In the Premium catalogues, the very Tippy teas together with the Best were firm to selectively dearer, whilst the cleaner Below Best and cleaner teas at the bottom appreciated. The balance was irregular following quality.