Colombo Tea Auction sees offering improved

The overall auction offerings were marginally higher this week, totalling 5.49 million kilogrammes.
Improved demand was seen for the High and Mid Grown Small Leaf teas, whilst the Low Growns continued to witness fair demand, with the concerning factor being the significant weakening in the prices for the PEK/PEK1 grades, said Forbes & Walker Tea Brokers.
The Ex-Estate offerings maintained and totalled 0.67 million kilogrammes, with the quantities showing no significant change.
“In this backdrop, it was encouraging to witness improved demand and a distinct classification of the better teas vis-à-vis the poorer counterparts. These teas were closely competed for by the shippers to the UK, continent and Japan, with some additional support from the tea bag sector,” Forbes & Walker Tea Brokers said.
In the Western sector, the better BOP/BOPFs often appreciated by Rs.50 per kilogramme and up to Rs.100 per kilogramme and more for select invoices, following special inquiry, indeed, an encouraging phenomenon amidst the bearish sentiment experienced over the past few weeks.

Also, there was better demand at the lower end and an average price appreciation of Rs.20-40 per kilogramme was seen, following the improved activity from the tea bag sector and shippers to the CIS. 
The CTC teas continued to sell at last week’s levels, with no significant change in the overall price structure. 
The Low Grown offerings maintained and totalled 2.3 million kilogrammes. The Leafy and Tippy catalogues met with fair demand, whilst the Semi-Leafy catalogue continued to meet with less demand. There was selective activity from the shippers to Turkey. 
In the Leafy catalogues, the high-priced OP1s appreciated, whilst the balance sold around last levels. The BOP1s, in general, were lower. A few select Best OPAs were firm, whilst the balance was easier. The Select Best and Best OPs sold around last levels, whilst the balance declined. A few Select Best PEKs appreciated on special inquiry, whilst the balance declined. The Select Best PEK1s were firm, whilst the balance declined.
In the Tippy catalogues, the Select Best FBOPs were lower, whilst the Best sold around last levels. The Below Best and teas at the bottom were irregular. The well-made FF1s were firm, whilst the clean leaf Below Best and teas at the bottom were firm to dearer. The balance sold around last levels.
In the Premium catalogues, the very Tippy teas met with good demand and were dearer. The Best and Below Best too appreciated to a lesser extent, whilst the balance was firm on last.