Wednesday, May 29, 2024

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Colombo Tea Auction offering records a significant decline to 4.9 Mn Kgs this week

By: Staff Writer

May 12, Colombo (LNW): Sri Lanka tea auction offerings recorded a fairly significant decline and totalled 4.9 million Kgs with improved demand and a dearer trend in prices for most teas on offer, perhaps triggered by the lower volume on offer in the backdrop of urgent shipments, tea brokers said.

The Colombo Tea Auction offering recorded a decline significantly, totalling 4.9 million kilogrammes.

There was improved demand and a dearer trend in prices for most teas on offer, perhaps triggered by the lower volume on offer against the backdrop of urgent shipments, Forbes and Walker Tea Brokers said. The Ex-Estate offerings were reasonably maintained and totalled 0.74 million kilogrammes.

The Westerns – Select Best, on offer were irregular and often easier, whilst the others together with the teas in the Below Best and Plainer categories, were often firm and Rs.20-40 per kilogramme dearer.

The Nuwara Eliyas were a weak feature and mostly unsold, due to a lack of suitable bids.The Uda Pussellawa BOPs were barely maintained, whilst the corresponding BOPFs appreciated by Rs.40-60 per kilogramme.

The Uva BOPs sold around last levels, whilst the corresponding BOPFs gained by up to Rs.100 per kilogramme. The High and Medium Grown CTCs – BP1s, in the High Grown category, had hardly any offerings, whilst the limited availability in the Mid Grown category was irregular and easier.

The PF1s – Better sorts, were firm and Rs.20-30 per kilogramme dearer. The others sold around last week’s levels, whilst the poorest on offer witnessed better demand and less withdrawals. The corresponding Low Grown types sold around last.

Less activity was seen from the shippers to the UK, Japan and South Africa. Improved activity from the tea bag sector was seen, whilst the shippers to the CIS continued to participate in the usual manner.

The Low Growns comprised of 2.07 million kilogrammes and the Leafy, Semi-Leafy and Tippy categories met with good demand.

In the Leafy and Semi-Leafy catalogues, the BOP1s together with the Select Best OP1s were firm, whilst the Best were firm to dearer.

However, the Below Best and teas at the Bottom were easier. The OP/OPAs, in general, appreciated. The Select Best PEKs were firm, whilst the Below Best were firm to dearer. The teas at the bottom were easier. The Select Best and Best PEK1s were easier, whilst the balance sold around last levels.

In the Tippy catalogues, the Select Best FBOP/FF1s were firm to selectively dearer, whilst the Best, Below Best and clean leaf teas at the bottom appreciated. The balance was easier, following quality. 

In the Premium catalogues, the Very Tippy teas met with good demand and were dearer. The Below Best and teas at the bottom too appreciated to a lesser extent.

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