Ceylon Tea prices tumble

Business

Colombo Tea Auction prices have been declining since last week and with production picking up quantities on offer were 6.04 million kg this week with 2.48 million kg being Low Grown Main Grades and 2.48 million kg were High and Mid Grown Main Grades.

In the Leafy and Semi Leafy catalogues a few select best BOP1/Ops maintained, whilst others were easier. Teas in the below best and bottom commenced marginally easier however declined substantially towards the closer.

Well-made OP/OPAs in general were easier and declined however towards the close of the sale. A few select best Pekoe/Pekoe1s maintained, whilst a range of improved below best varieties met with improved demand and poorer sorts were barely steady. In the Small leaf catalogues well-made FBOPs were generally firm. Teas at the lower end declined. In the Premium Flowery catalogues a few select best varieties were firm, whilst others declined and were mostly unsalable.

There was fair general demand in the Ex-Estate catalogues, but prices eased further on last week’s closing rates. (SD)

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