By: Staff Writer
February 17, Colombo (LNW): The latest Colombo Tea Auction witnessed a dip in buying intensity, influenced by an increase in supply and qualitative factors, according to a report by Forbes and Walker Tea Brokers.
This week’s total auction offerings amounted to 5.9 million kilograms (M/Kgs), reflecting a decrease from the 6.4 M/Kgs recorded over the past two to three weeks. The Ex-Estate category remained steady at approximately 0.9 M/Kgs. However, the overall quality of teas did not show any notable improvement, with only a few seasonal varieties available.
In the Best Western segment, a handful of select BOP invoices experienced a significant price appreciation due to superior quality and specific inquiries, whereas others fluctuated based on quality variations.
The corresponding BOPFs saw a broader range of offerings, with prices rising by Rs.100 per kilogram and above for the higher-quality teas, while others remained inconsistent.
In the Below Best and Plainer categories, BOPs dropped by Rs.20-40 per kilogram, and the Below Best BOPFs showed irregular trends. Clean leaf BOPFs at the lower end held firm, but others declined by Rs.20 per kilogram.
The Nuwara Eliya BOP/BOPFs were sold at steady to higher prices due to superior quality. Meanwhile, Uva/Uda Pussellawa BOPs remained barely stable, and their BOPF counterparts showed irregular patterns. A selection of Uva teas managed to fetch firm to slightly higher prices.
High and Mid Grown CTC teas had limited availability in the BP1 category. Among the PF1 High Growns, premium teas showed stable prices, while others tended to ease. The Low Grown BP1s were mostly unsold, and PF1s declined by Rs.20-40 per kilogram.
Market activity from major shipping destinations varied. Shippers to the UK, South Africa, and the continent showed reduced interest, whereas fair demand was observed from Japanese buyers. The CIS region saw consistent activity, though primarily at lower price levels compared to previous weeks.
Low Grown teas accounted for 2.6 M/Kgs and saw moderate demand. Within the Leafy and Semi-Leafy categories, Select Best and Best BOP1s experienced a decline, and bolder varieties remained irregular. The OP1s also trended downward, while OPs and Below Best categories showed a slight drop. The high-priced PEK/PEK1s weakened, and the Best and Below Best varieties followed suit, while lower-end teas remained steady.
In the Tippy category, some Select Best FBOPs held their previous price levels, while others declined. The Best and Below Best varieties, along with bolder types, also weakened, but lower-end teas remained stable. Select Best and Best FF1s saw price declines, whereas the bottom-tier teas were steady.
For premium teas, Very Tippy varieties held firm, while the Best and Below Best segments remained stable to slightly dearer. Lower-tier teas exhibited irregular trends based on quality. Leafier varieties maintained their previous price levels, contributing to a mixed market performance overall.
