Daily Mirror - Print Edition

Colombo Tea Auction sees 5.8 MnKgs on offer this week

21 Jun 2024 - {{hitsCtrl.values.hits}}      

The Colombo Tea Auction saw 5.8 million kilograms on offer this week which was met with fair general demand. Ex-Estate offerings remained fairly static and totalled 0.84 million kilograms.

Following a general decline in quality, the better teas were often irregular and easier, Forbes and Walker Tea Brokers said.

Consequently, with the exception of a few select invoices most teas in the Best and Below Best categories often declined by Rs. 20-30 per kg. The improved activity at the lower end, in the backdrop of limited availability, pushed prices up particularly as the sale progressed by Rs. 20-30 per kg. 

High & Mid Grown CTC teas too followed a similar trend with prices often appreciating at the lower end. Corresponding Low Grown types were firm to marginally dearer. 

The improved activity at the lower end ‘Tea for Price Category,’ perhaps augured well for tea prices in the foreseeable future.  

Low Growns comprised of 2.5 million kilograms. The Leafy category met with less demand, whilst the Semi-Leafy and Tippy categories met with good demand. There was an improved activity from shippers to Türkiye and Iran, whilst shippers to CIS bid selectively. 

In the Leafy and Semi-Leafy catalogues, well-made BOP1/OP1’s were easier, whilst the balance were firm. High-priced OP/OPA’s were lower, whilst the balance sold around last levels. Well-made PEK’s particularly the bolder varieties appreciated, whilst the balance sold around last levels. Select Best PEK1’s were firm, whilst the balance eased. 

In the Tippy catalogues, Select Best FBOP’s were firm, whilst the balance was firm to dearer. However, the bolder varieties declined. FF1’s, in general, appreciated. 

In the Premium catalogues, Very Tippy teas met with good demand and were dearer. Best and the clean leaf Below Best was firm to dearer, whilst the balance were irregular following quality.