Colombo tea volumes decline further at auction

Business

The tea auction in Colombo this week saw volumes declining to 4.41 million kg on offer, Asia Siyaka Market report stated.

There were 1.97 million kg of Low Grown Main Grades and 1.57 million kg of High and Mid Grown Main Grades.

Low Growns met with good demand. In the Leafy grade catalogues select best OP1s were firm on last; whilst below best and others gained in value. Select best and best OP/OPAs were firm to dearer; whilst poorer varieties appreciated in value.

Pekoe/ Pekoe 1s met with good demand and sold at firm to dearer rates. BOP/BOPFs met with good demand. In the Premium Flowery catalogues long leaf and small leaf tippy teas sold at dearer rates.

There was good general demand in the Ex-Estate catalogues. Better Western BOPs were selectively dearer Rs.50 to Rs.100 on special inquiry; others held last levels. Better BOPFs were firm; some improved below best teas gained Rs.50; bottom was irregular.

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