Good demand at this week’s Colombo tea auction

Friday, 18 November 2016 00:00 - - {{hitsCtrl.values.hits}}

By Forbes and Walker

Tea Brokers

The 45th Sale of the year concluded today which had on offer a total of 4.8M/kgs. There was good demand.

Ex-Estate offerings were once again limited to a 0.6M/kgs. There was good demand and most teas sold at firm to dearer rates. Best western BOP’s where quality was maintained gained Rs. 20/- per kg whilst the others were firm and dearer to a lesser extent. Corresponding BOPF’s which commenced Rs. 10-20/- per kg lower on last week’s levels were firm and dearer by up to Rs. 20/- per kg by the close. In the below best category BOP’s were firm and tended dearer whilst the corresponding BOPF’s which commenced at firm to easier rates gained by Rs. 10-20/- per kg as the sale progressed. Teas in the plainer category were mostly firm. Nuwara Eliya’s - best available BOP’s were Rs. 20-30/- per kg lower whilst the others were firm. Corresponding BOPF’s declined Rs. 10-15/- per kg. Uva/Udapussellawa BOP/BOPF’s were generally firm. CTC BP1’s were firm to marginally lower whilst the corresponding PF1’s were firm and up to Rs. 10/- per kg dearer.

There was improved activity from shippers to CIS, China, Japan and Hong Kong whilst UK and the Continent continued to be selective.

Low Growns comprised of 2.4M/kgs in the Leafy/Tippy catalogues, a slightly larger volume compared to the preceding sale. There was good general demand .In the Leafy catalogue better OP1’s were fully firm to selectively dearer whilst the BOP1’s were irregular and lower. Better OP/OPA’s too were mostly firm. Others were irregular particularly where quality was not maintained. PEK’s were firm to marginally lower whilst PEK1’s were fully firm to dearer. In the Tippy catalogue too FBOP/FF1’s were fully firm to dearer. Cleaner secondaries too were generally dearer to last. In the Premium catalogue too prices were fully firm to selectively dearer for most teas. There was a good demand from shippers to Turkey, Dubai, CIS, Saudi Arabia, and Kuwait together with Iraq.