The Colombo tea auction recently witnessed a significant decline in offerings, with a total of 4.9 million kilogrammes on offer. Despite this, there was an improvement in demand and prices for most teas, according to Forbes and Walker Tea Brokers.
The Ex-Estate offerings remained reasonably maintained, totaling 0.74 million kilogrammes. However, the Westerns – Select Best, saw irregularities and often lower prices, while others, including teas in the Below Best and Plainer categories, were generally firmer, experiencing a price increase of Rs. 20-40 per kilogramme.
Nuwara Eliyas were noted as a weak feature, with most remaining unsold due to insufficient bids. Meanwhile, Uda Pussellawa BOPs barely maintained their prices, while corresponding BOPFs appreciated by Rs. 40-60 per kilogramme. Uva BOPs sold at around last week's levels, but corresponding BOPFs gained by up to Rs. 100 per kilogramme.
High and Medium Grown CTCs – BP1s, particularly in the High Grown category, had limited offerings, while those in the Mid Grown category were irregular and lower in price. PF1s – Better sorts, were generally firmer, with an increase of Rs. 20-30 per kilogramme. However, the poorest offerings witnessed better demand and fewer withdrawals.
Activity from shippers to the UK, Japan, and South Africa decreased, while there was increased activity from the tea bag sector and continued participation from shippers to the CIS.
Low Growns comprised 2.07 million kilogrammes, with good demand seen in the Leafy, Semi-Leafy, and Tippy categories. BOP1s and Select Best OP1s were firm, while Best varieties were firm to dearer. Conversely, Below Best and teas at the Bottom were lower in price. OP/OPAs appreciated in general.
In Tippy catalogues, Select Best FBOP/FF1s were firm to selectively dearer, while others appreciated, and the balance saw a decrease in price due to quality.
Premium catalogues witnessed good demand for Very Tippy teas, which were dearer, along with appreciation in Below Best and bottom-tier teas to a lesser extent.
