COLOMBO TEA AUCTION 02/09/2015

C O M M E N T S

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A total of 7.7 M/Kgs came under the hammer this week. Low Grown teas continued to witness limited demand whilst the High and Medium small leaf teas met with fair demand although prices were irregular following quality.

Ex-Estate offerings comprised of 1.1 M/Kgs. Quality of teas from the Western Planting Districts showed selective improvement whist Nuwara Eliya and Udapussellawa’s showed no change and were disappointing. Uva’s had on offer, a small selection of seasonal quality teas which were improved on last week whilst the others showed no significant change. Western’s in the best category were mostly lower following quality whilst in the below best category prices were irregular following quality. Plainer BOP’s were irregular whilst the corresponding BOPF’s were often Rs. 10-20/- per kg lower. Nuwara Eliya’s-few select BOP’s were dearer following quality whilst the others together with the BOPF’s were neglected and mostly unsold. Udapussellawa BOP/BOPF’s declined Rs. 10-20/- per kg whilst the poorest were difficult of sale. Uva seasonal teas continued to appreciate in value following quality and air mail inquiry whilst other clean leaf BOP’s were Rs. 10-20/- per kg dearer. Corresponding BOPF’s were lower by similar margin. For the second consecutive week, there was renewed interest for the liquoring leafy teas which continued to sell well with prices ranging from Rs. 500-1100/- per kg.

Low Growns comprised of approximately 3.7M/kgs in the Leafy/Tippy catalogues. In the Leafy catalogue a limited selection of well made BOP1/OP1’s together with clean below best sorts sold around last levels. Others were irregular and lower. Well made OPA’s too sold around last levels others and OP’s however declined to last. Select best PEK1’s maintained whilst others which sold around last levels declined marginally towards the close. In the Tippy catalogue a few select best FBOP’s maintained whilst others and FF1’s declined. At the lower end too prices were generally lower to previous. Well made Tippy invoices were selectively dearer whilst others were lower following quality. Shippers to CIS, Turkey, Dubai, Iraq, and Kuwait together with Saudi Arabia were active this week.

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