Good demand at Colombo tea auctions

Friday, 5 February 2021 00:00 - - {{hitsCtrl.values.hits}}

By Forbes and Walker Tea Brokers

A total of 7 m/kg was on offer this week, of which, approximately 1 m/kg comprised of Ex-Estate teas. There was good demand.

Ex-Estate offerings showed an improvement in quality, particularly for teas from the Western slopes. Consequently, select pre-quality season invoices appreciated in value, at times, substantially following quality/special inquiry and that too, primarily for the BOP invoices. In the Below Best category too, select brighter invoices were readily absorbed at firm to dearer rates, with price gains of Rs. 20-30 per kg being realised for these improved teas. At the lower end of the market, teas were firm and dearer to a lesser extent. Nuwara Eliya’s were irregular and mostly easier, whilst teas from the Uva/Uda Pussellawa regions were mostly irregular and barely steady, with a few select clean leaf teas appreciating in value.

CTC teas continued to sell around the previous week’s levels, whilst prices tend to fluctuate following quality.

Auction offerings begin to show a decline from next week’s auction (Sale No. 6), whilst the quality of offerings particularly from the Western slopes show a gradual improvement with a wider selection of seasonal teas on offer.

Low Growns comprised of 3.1 m/kg. There was fair demand in the Leafy/Semi Leafy and Tippy catalogues.

BOP1/OP1’s, in general, were easier. A selection of better OP/OPA’s maintained, whilst the balance was lower. Teas at the bottom were fully firm. A selection of well-made PEK’s maintained, whilst all others declined substantially. PEK1’s in general were firm.

In the Tippy catalogues, Select Best and Best FBOP/FF1s declined. However, cleaner Below Best and teas at the bottom sold around last levels, whilst the balance were irregular following quality.

In the Premium catalogues, very Tippy teas continued to attract good demand and were fully firm. Best were firm to selectively dearer, whilst the balance was irregular following quality.