Tea auction sees improved offering, demand and prices
Overall offering at the Colombo Tea Auction were marginally higher this week and totalled 5.2 M/kgs. According to Forbes and Walker Tea Brokers, there was improved demand and a general appreciation in prices, perhaps triggered primarily by lower volumes. Interestingly, most other auction centres too have recorded an appreciation in prices this week.
Ex-estate offerings were fairly similar to last and totalled 0.74 M/kgs. There was improved quality from the Western slopes. A few select Nuwara Eliyas’ too improved, whilst offerings from Uva/uda Pussellawa were fairly similar to last.
Best Western BOP/BOPF’S, where quality was improved, appreciated up to
Rs. 100 per kg and substantially more for select invoices following special inquiry. Other BOP’S continued to sell around last week’s levels, whilst the corresponding BOPF’S appreciated by Rs. 50-70 per kg in most instances. In the Below Best category, improved BOP’S gained by Rs. 100 per kg and more, whilst the others were firm and dearer to a lesser extent.
High & Medium Grown CTC prices continued to be buoyant. Corresponding Low Grown types, particularly the PF1’S which at the commencement of the sale recorded price increases of approximately Rs. 50 per kg and more for teas at the lower end, eased as the sale progressed and declined by a similar margin.
There was improved activity from shippers to the UK, the continent, South Africa and Japan for the better liquoring teas, whilst the CIS continued to be active on a wider cross-section of the offerings.
Low Growns comprised of 2.31 M/kgs and met with fair demand. Shippers to Iran, Iraq and the CIS were fairly active, whilst there was selective interest from shippers to Türkiye.
In the Leafy catalogues, OP1’S in general were firm. Select Best and Best BOP1’S sold around last levels, whilst the Below Best were easier. Teas at the bottom were firm.
In the Tippy catalogues, well-made FBOP/FF1’S were firm, whilst the clean leaf Below Best and clean leaf teas at the bottom appreciated. The remaining were irregular following quality.
In the Premium catalogues, very Tippy teas met with good demand and were firm, whilst the balance appreciated. Teas at the bottom sold around last levels.