Colombo tea auction quantities surge

Business

The Colombo Tea auction saw offerings continuing to be on the high side with quantities above 6.5 million kg this week.

There was limited availability of good quality teas. The High and Mid Grown liquoring teas continued weak, whilst the large leaf teas in comparison continued to secure a fair premium.

The lower end of the market showed some improvement, Forbes and Walkers Tea Brokers stated.

There was less demand from shippers to the UK and the continent. Fair activity was observed from shippers to Japan, the CIS and the Middle Eastern sector, whilst there was selective buying from South Africa and perhaps China.

The current crop intake on most plantations has recorded a decline which is likely to show up in the auction availability in about two to three weeks.(SD)

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