COLOMBO TEA AUCTION 28/07/2015

C O M M E N T S

********************

A total of 7.3 M/Kgs came under the hammer this week. There was fair demand at lower levels. Indeed a disappointing sale!!

Ex-Estate offerings were marginally lower to last whilst quality of offerings too showed a decline. Best Western BOP’s had on offer a selection of invoices that gained Rs. 5-10/- per kg following special inquiry. Others on average declined Rs. 10/- per kg whilst the corresponding BOPF’s declined Rs. 20/- per kg and more following quality for last week’s high priced teas. In the below best and plainer categories BOP’s declined Rs. 10-20/- per kg whilst corresponding BOPF’s declined Rs. 20-30/- per kg. Nuwara Eliya’s continued to meet with very limited interest and consequently BOP/BOPF’s declined Rs. 30/- per kg and Rs. 50/- per kg respectively following quality. Udapussellawa BOP’s declined Rs. 20/- per kg whilst the corresponding BOPF’s declined Rs. 30-50/- per kg. Uva BOP’s declined Rs. 20-30/- per kg whilst the corresponding BOPF’s declined Rs. 20/- per kg and more for the poor leaf teas. CTC teas followed a similar trend and on average BP1s and PF1s declined Rs. 10-20/- per kg and Rs. 20-30/- per kg respectively. Liquoring leafy teas met with slightly better demand this week and prices for these teas ranged between Rs. 400/- to Rs. 1150/- per kg.

There was less interest from shippers to the CIS and other traditional markets as well.

Low Growns comprised of 3.5M/kgs in the Leafy/Tippy catalogues. There was fair demand at lower levels. In the Leafy catalogue better BOP1/OP1’s were mostly lower whilst a range of clean below best types held firm. Better OP/OPA’s too were irregularly lower. Here again a range of clean /improved below best sorts were firm. At the lower end of the market too prices were irregular and were often lower Rs.5-10/- per kg. A range of better PEK/PEK1’s together with the bolder types held firm whilst all others declined in value. In the Tippy catalogue too,  a range of select best FBOP’s though irregular were firm. Others along with the FF1’s declined. Better Tippy teas were irregular with only a limited selection of tea being dearer to last. At this week’s sale shippers to CIS, Turkey, Dubai, Kuwait, Saudi Arabia and Iraq were active.

********************