Auction News

Colombo Tea Auction - SALE NO:

The penultimate sale of the year concluded today had an increased volume of 4.94 M/Kgs on offer, up from the 4.48 M/Kgs on offer the previous week. Large Leaf teas in general met with improved demand, whilst the High & Medium Grown (Orthodox/Rotovane types) encountered selective interest and a bearish market sentiment.

Ex-Estate offerings comprised of 0.67 M/Kgs and here again, an increased volume vis-à-vis the previous week's 0.52 M/Kgs. Overall quality of teas showed no noticeable change.

Prices for the Best Western BOP/BOPF's were often quality driven with a select range of invoices appreciating by Rs. 50-100 per kg following special inquiry. In the Below Best and Plainer categories, BOP's declined by up to Rs. 100 per kg, whilst the corresponding BOPF's were firm and up to Rs. 40 per kg easier particularly towards the close. Nuwara Eliyas' met with less demand and had hardly any offerings. Uva/Uda Pussellawa BOP's - In the backdrop of its limited availability, perhaps appreciated by Rs. 50-100 per kg. Corresponding Uda Pussellawa BOPF's were Rs. 20-40 per kg lower, whilst the Uva BOPF's gained by a similar margin and more.

CTC teas showed no change in the overall price structure though qualitative aspects were primarily the reason for price movements. Auction offerings over the next 2 weeks show a gradual and marginal improvement. Low Growns comprised of 2.03 M/Kgs and in general, met with fair demand. In the Leafy catalogues, Select Best OP1's were easier, whilst the balance were firm to dearer. BOP1's together with the well-made OP's were firm, whilst the balance were easier. Select Best OPA's were easier, whilst the balance sold around last levels. PEK's in general were firm, whilst the PEK1's declined.
In the Tippy catalogues, Select Best FBOP's were firm to easier, whilst the balance appreciated. Select Best FF1's sold around last levels. Best together with the Below Best and clean leaf teas at the bottom appreciated, whilst the balance were irregular.

In the Premium catalogues, very Tippy teas met with good demand and were firm to selectively dearer, whilst the Best and Below Best sold around last levels. Others were irregular.