By John Keells PLC
With the improvement of quality, there was widespread and better demand throughout the Colombo Auction. It was encouraging to witness buyer support for the better teas on offer which also had a positive impact on the below best and the secondary teas.
This trend is expected to continue with the shippers to Russia collecting inventories for the Winter season. It was also evident that shippers to Iran were more active and is likely to continue in the weeks to come.
With the weather brightening up rapidly in the eastern slopes of the country, we are expecting to see Uva seasonal teas in the auctions during the month of August. Weather conditions currently are conducive for quality manufacture.
Yesterday’s 1.1Mkgs of Ex Estate teas on offer met with improved demand. Select best Western BOPs were irregularly dearer following quality, whilst the below best types were keenly sort after. Plainer varieties were neglected. The select best Western BOPFs were dearer following special inquiry.
There was improved demand for the below best types with a descent leaf appearance and reasonable liquors, the plainer types however were neglected. Brighter Nuwara Eliya BOP/BOPFs sold well, others were easier.
Clean leaf, Coloury Uva/Udapussellawa BOP/BOPFs appreciated, whilst the plainer types were irregularly lower. There was widespread demand for CTC PF1s from all elevations. The BP1s, however, were difficult of sale. The 3.1Mkgs of Low Grown teas which were on offer met with fair demand. Select best and best BOP1s were firm. OP1s were irregularly lower. OP/OPAs met with irregular demand. Well-made Pekoe/Pekoe1s were firm, balance shed following quality. In the Small leaf segment, Select best BOP.SP/BOPF.SP and BOPFs were firm. Select best BOPs met with fair demand. FBOPs gained a few rupees. FBOPF1 varieties attracted improved interest. Excellent demand for the FBOPFs continued. All Premium Flowery Teas appreciated several rupees.
Russia, Turkey, Iran and the C.I.S. countries were active. Libya and Iraq lent fair support.