Mixed results at Colombo Tea auctions this week

Friday, 13 January 2012 00:01 - - {{hitsCtrl.values.hits}}

A total of 6.8m/kgs came under the hammer this week. Low Grown leafy teas met with a bearish trend, whilst, prices for the small leaf liquoring teas continued to be buoyant for the second consecutive week.

Ex-Estate offerings totalled 1.1m/kgs. Overall quality of offerings was irregular and showed no significant change. Nevertheless, there was improved demand often at dearer rates.

Best Western BOPs continued to sell well with a few select invoices selling above the Rs. 450 per kg mark. In the below best and plainer categories too, the limited availability of BOPs met with improved interest and sold at dearer rates, which was indeed encouraging.

BOPFs too were dearer and on average gained Rs. 5-10. Nuwara Eliyas continued to be a disappointing feature, whilst the Uva/Udapusellawas mostly sold around last.

CTCs and particularly the PF1 grade which witnessed a sharp rise in prices at the last week’s auction took a correction this week, declining by Rs. 20-30 per kg on the high priced invoices. The limited availability of liquoring leafy teas continued to sell well.

This week a total of 3.3m/kgs came up for sale in the Low Grown Leafy/Tippy catalogues. In the Leafy catalogue, a few select best OP1/BOP1s held firm. Other high priced teas were easier. OP/OPAs were generally easier by Rs. 5-10 per kg, barring the lower end teas which sold at firm to dearer rates.

A few select best PEK1s together with a range of improved below best maintained whilst the others and the PEKs were easier. In the Tippy catalogue too better FBOP/FBOPF1s were irregular. Others, particularly the improved below best sorts sold at firm to irregularly dearer rates.

At the lower end the cleaner types were firm to dearer. The balance was barely steady. CIS, Turkey, Dubai, Saudi Arabia, Kuwait and Iraq were active this week.

(Source: Forbes and Walker Tea Brokers)