Colombo Tea Auction sees quantities improve but demand to pick up

The overall offerings at the Colombo Tea Auction are observed to be increasing, with this week showing a further improvement, as the quantities totalled 5.3 million kilogrammes. 
However, the offering was met with less demand for the High and Medium Grown Small Leaf teas, whilst the Low Grown and Large Leaf varieties encountered mixed demand, Forbes and Walker Tea Brokers said.
The Ex-Estate offerings totalled 0.67 million kilogrammes, marginally lower to the previous week’s 0.72 million kilogrammes. The overall quality of teas showed a decline over last. There was much less demand, particularly for the BOPF grade. 

A selection of Best Westerns, which maintained quality, sold around last week’s levels, with a few invoices appreciating, following special inquiry, whilst the others declined by Rs.50 per kilogramme and more with many BOPF invoices remaining unsold, due to a lack of suitable bids.  In the Below Best category, the BOPs sold well around last week’s levels, with select invoices appreciating in value. The corresponding BOPFs, barring a few select invoices, which sold around last week’s levels, sold at firm to Rs.50 per kilogramme easier levels, whilst a fair weight of teas remained unsold, due to a lack of suitable bids. At the lower end, the BOPs were firm and up to Rs.50 per kilogramme dearer, whilst the corresponding BOPFs declined by Rs.20-40 per kilogramme and more for the poor leaf teas. 
The Nuwara Eliyas had hardly any offerings. The Uda Pussellawa BOPs sold around last levels, whilst the corresponding BOPFs, with the exception of a few invoices that sold around last, majority remained unsold, due to a lack of suitable bids. The Uva BOPs gained Rs.20-40 per kilogramme and more following special inquiry, whilst the corresponding BOPFs too appreciated by a similar margin. 
The High and Medium Grown CTC teas – BP1s, sold around last, whilst the PF1s were firm and Rs.20-30 per kilogramme easier. The Low Grown varieties continued to sell well. 
There was hardly any interest from the UK and the continent, whilst there was fair demand from the shippers to Japan. There was selective interest from the shippers to South Africa, whilst the shippers to the CIS showed fair interest at lower levels. 
The Low Grown offerings showed a marginal improvement and totalled 2.3 million kilogrammes. The Leafy and Tippy catalogues met with fair demand, whilst the Semi-Leafy catalogue met with less demand. There was improved activity from the shippers to Iran, whilst there was less demand from the shippers to Turkey. 

In the Leafy catalogues, the well-made OP1s were firm to dearer, whilst the balance declined. A few Select Best BOP1s appreciated on special inquiry, whilst the balance together with the Best was firm. However, the teas in the Below Best category and teas at the bottom declined. The Select Best OP/OPAs sold at last levels, whilst the balance was easier. The PEKs, in general declined, whilst the PEK1s were fully firm.
In the Tippy catalogues, the high-priced FBOPs were easier. The Best and clean leaf teas in the Below Best category sold around last levels, whilst the balance was irregular. The well-made FF1s were firm, whilst the clean leaf teas in the Below Best category together with the teas at the bottom appreciated. The balance was irregular.

In the premium catalogues, the very Tippy teas met with good demand and were dearer. The Best and Below Best too were firm to dearer, whilst the balance was irregular, following quality.