The overall Colombo tea auction quantities declined to 5.3 million kg from 5.8 million kg on offer the previous week. The bearish market sentiment continued for most teas on offer, perhaps a combination of the volatility in the currency and West Asian markets.
There was less demand and a lower trend in prices. The volatility in the currency and the West Asian markets continue to weigh on prices.
Liquoring teas from the Western slopes – of the selected lots appreciated, whilst the majority encountered a lower trend.
There had been strong demand at the lower end of the market for BOPF’s. Less demand and lower prices was observed for poorer CTC teas. Low grown CTC price dip substantially.
There has been much less activity from shippers to the UK, the continent and South Africa. Usual buying preference was evident from shippers to Japan and China, whilst shippers to the CIS continued to participate on wider cross-section of the teas. (SD)
Former Chairman of SriLankan Airlines, Nishantha Wickramasinghe, arrested on allegation of corruption by the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) has been remanded until July 1 by the Colombo Magistrate court.
Deputy Minister of Finance and Economic Stabilization and NPP National List MP Harshana Suriyapperuma who is tipped to be named the next Finance Ministry Secretary resigned from Parliament today.
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