COLOMBO TEA AUCTION 11/03 /2015

C O M M E N T S

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This week’s auction quantity was similar to last and totalled 7.3M/Kgs. The market sentiment was better with the feature being the  improved demand for teas at the lower end. 

Ex Estate offerings showed a marginal increase over last and totalled 1.2M/Kgs. There was fair demand at irregular rates following quality. In the Best Western category select invoices were dearer following airmail inquiry, whilst others were irregular and tended easier. In the below best category too a selection of brighter BOP/BOPF’s gained Rs. 10-20/- per kg following special inquiry, whilst others were irregular and easier. Plainer BOP’s were firm whilst in the corresponding BOPF category clean leaf types gained Rs. 10-15/- per kg whilst others sold around last week’s levels. Nuwara Eliya BOP continued to meet with excellent demand with prices realized being in excess of Rs. 600/- per kg, whilst the corresponding BOPF once again, were difficult of sale. Uva/Udapussellawa clean leaf BOP declined by Rs. 10-20/- per kg whilst others were mostly firm, the corresponding BOPF were firm and upto Rs. 10/- per kg lower for the poorer types. High and Medium Grown CTC teas continued to witness a disappointing market with the poorer types in particular being difficult of sale. Liquoring leafy teas continued to meet with good demand although prices tend to ease off compared to the previous week’s levels.

There was better demand from Shippers to CIS whilst Shippers to South Africa, Japan, UK and the Continent bid selectively.

Low Growns comprised of approximately 3.4M/kgs in the Leafy/ Tippy catalogues. There was fair demand. In the Leafy catalogue better OP1’s together with BOP1’s sold at firm to irregularly dearer rates. Others too were mostly firm with the exception of the lower end OP1’s that declined Rs.10-15/- per kg. Select best OP/OPA’s too were easier. Others were fully firm with the teas at the lower end gaining Rs.5-10/- per kg at times. Better PEK/PEK1’s were firm, others however declined Rs.5-15/- per kg particularly for the bolder types. In the Tippy catalogue too, better FBOP/FF1’s together with the cleaner secondaries were firm to irregularly dearer. Others were lower following quality. Well made Tippy grades too gained substantially. Shippers to Turkey, Dubai, Saudi, Libya and Iraq together with CIS were active this week.