COLOMBO TEA AUCTION 19/08/2015

C O M M E N T S

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This week’s Auction was a one day restricted sale on account of the General Elections held early this week. Consequently, a limited quantity of 4.2 M/Kgs were on offer.

Ex-Estate offerings totalled a 0.7 M/Kgs. Overall quality of offerings were mostly lower to last being teas harvested immediately following the “Go Slow” on Plantations during the first half of July 2015. Best Western BOP’s gained Rs. 20/- per kg and more following quality whilst the corresponding BOPF’s appreciated by similar margin for just a handful of invoices. Other Western BOP’s gained Rs. 10/- per kg whilst the corresponding BOPF’s were firm although prices were irregular following quality. Nuwara Eliya’s continued to decline in value, once again, following weaker quality. Udapussellawa’s clean leaf BOP/BOPF’s gained Rs. 20-30/- per kg and more whilst others were barely steady. Uva’s-seasonal teas sold mostly at firm to dearer rates following quality-and air mail inquiry. Other clean leaf coloury teas were Rs. 10-20/- per kg dearer whilst the poorer sorts were irregular and barely steady. CTC teas were on average Rs. 10/- per kg lower and here again, irregular following quality.

Low Growns comprised of approximately 2M/kgs in the Leafy/Tippy catalogues on account of the restricted sale following the General Election.  There was fair general demand. In the Leafy catalogue select best BOP1/OP1’s together with a range of clean below best types maintained. Others were irregular and lower. Better OP/OPA’s were irregularly lower. Clean below best together with the teas at the lower end were however firm. Better PEK/PEK1’s were firm. Others were irregular and often lower. In the Tippy catalogue too select best FBOP/FF1’s together with the cleaner secondaries were firm. Others were lower following quality. At the lower end too there was fair demand and prices were firm. Well made Tippy teas too met with good demand and were firm to selectively dearer whilst others were mostly lower to last. There was fair demand from the shippers to Turkey, Dubai, CIS, Iraq and Saudi Arabia this week.

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