COLOMBO TEA AUCTION 17/06/2015

C O M M E N T S

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This week a total of 7.9 M/Kgs were on offer of which 1.2 M/Kgs comprised of Ex-Estate teas. Improved demand for High/Medium Grown teas whilst the Low Growns witnessed fair demand.

Ex-Estate offerings were similar to last and totalled a 1.2 M/Kgs. Overall quality of Western’s were selectively improved whilst the others were mostly similar to last. The feature of the sale was the strong demand for teas at the lower end of the market and consequently, the appreciation in prices up to Rs. 20/- per kg. Best Western BOP/BOPF’s were often irregular following quality whilst teas in the below best category were selectively dearer by Rs. 10-20/- per kg. Nuwara Eliya’s continued to meet with limited interest, primarily following the plainer quality on offer. Uva/Udapussellawa BOP’s were often easier whilst the corresponding BOPF’s gained up to Rs. 20/- per kg. CTC teas-met with improved demand and often gained by Rs. 10-20/- per kg and more for the clean leaf teas. Liquoring leafy teas met with selective demand and consequently the best available teas were fully firm and often appreciated in value whilst invoices that did not meet with the required quality often declined by Rs. 50-100/- per kg and at times remained unsold due to the lack of a suitable bid. Prices realized for these teas ranged between Rs. 450/- per kg and Rs. 1700/- Per kg.

There was improved demand from the shippers to the CIS on a wider cross section of the teas. Japan, South Africa and Hong Kong continued to be reasonably active whilst UK and the Continent appeared selective.

Low Growns comprised of 3.5M/kgs in the Leafy/Tippy catalogues. There was fair demand particularly in respect of the better teas. In the Leafy catalogue BOP1’s/OP1’s were firm to irregularly dearer with the exception of a few high priced teas that were irregular following quality. Better OP/OPA’s were fully firm whilst others declined Rs. 5-10/- per kg and more. Better PEK’s together with bolder types sold at firm to irregularly rates, whilst others and PEK1’s were barely steady.   In the Tippy catalogues too better FBOP’s together with FF1’s sold around last levels. Others were irregular and lower. Tippy invoices met with better demand and were mostly dearer to last. Shippers to CIS, Dubai, Turkey, Saudi Arabia and Kuwait were active this week.

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