Disappointing sale at Colombo Tea Auctions this week

Thursday, 4 February 2016 00:00 - - {{hitsCtrl.values.hits}}

tea-plantation By John Keells Plc

A disappointing sale was witnessed for the 1.04Mkgs of Ex-Estate teas at Tuesday’s sale with a large weight of teas remaining unsold. A handful of select best invoices sold well on special inquiry in the Western High Grown category. However, the below best and plainer types were often easier.

Nuwara Eliya BOPs/BOPFs were firm whilst the Uva/Udapussellawa were firm to easier. A few light bright leafy teas with some character sold at attractive prices. Low Grown CTC PF1s declined whilst the High and Medium types too were lower and some invoices remained unsold. The Tea Bag Sector was very selective whilst Russia showed little interest. UK, Japan and Continental buyers were selective and operated mostly following quality. There was less demand for the 3.2 Mkgs of Low Growns that were on offer. In the Leafy segment, better OP1/BOP1s shed Rs. 10 to Rs. 20. Better OP/OPAs maintained last levels. Pekoe/Pekoe1s declined Rs. 20 to Rs. 30. In the Small leaf category, FBOP/FBOPF1s shed Rs. 10 to Rs. 20.

Better Tippy varieties were firm, the balance were irregular. There was less demand from the Russian, Iranian and the other Middle Eastern buyers.