COLOMBO TEA AUCTION 16/12/2015

C O M M E N T S

The penultimate sale of the year which concluded today had on offer a total of 6.4 M/Kgs. There was fair demand.

Ex-Estate offerings totalled a 1.1 M/Kgs against the 0.9 M/Kgs on offer last week. Overall there was less demand possibly with most Buyers having covered their urgent requirements. In addition, overall quality of teas particularly from the Western slopes, showed a decline and consequently Best Western BOP/BOPF’s declined Rs. 20/- per kg. Other Western BOP’s were Rs. 5-10/- per kg lower on average whilst the corresponding BOPF’s which commenced at Rs. 20/- per kg lower on last tend to decline further as the sale progressed. Nuwara Eliya BOP’s declined up to Rs. 30/- per kg whilst the corresponding BOPF’s gained by a similar margin and more. Uva/Udapussellawa BOP’s declined Rs. 20-30/- per kg. The corresponding BOPF’s from the Udapussellawa region had a select range of invoices that gained up to Rs. 20/- per kg following special inquiry whilst the others together with the Uva’s were often Rs. 20-30/- per kg lower. CTC BP1’s gained a Rs. 10-20/- per kg on average whilst the PF1’s were mostly firm with the exception of the poor leaf teas which declined in value.

Low Growns totalled 2.8M/kgs in the Leafy/Tippy catalogues. There was fair demend. In the Leafy catalogue better OP1’s together with a fair selection a BOP1’s were fully firm to dearer. Others were mostly lower following quality. Better OP/OPA’s too were irregularly lower whilst the balance were firm. Select best PEK/PEK1’s were irregularly dearer. Others which commenced around last levels declined marginally towards the close. In the Tippy catalogue too a few select best FBOP/FF1’s together with the cleaner secondaries maintained last levels. All others were irregular and lower. In the Premium catalogue high priced teas were irregular and lower. A range of neat leaf teas however in the below best category were fully firm to dearer. Shippers to Turkey, Dubai, Iraq, and Saudi Arabia together with CIS were active this week.