Iran, Turkey on selective buying at Colombo tea auction

Business

There was 4.55 million kg of tea on offer this week at the Colombo Tea auction with 2.17 million kg from the Low Grown Main Grades and 1.54 million kg from the high and Mid Grown Main Grades.

The Leafy Grade catalogues met with fair demand while the Semi Leafy, Small Leaft and Premium catalogues met with lower demand. Shippers to Iran and Turkey were very selective while shippers to Russia were fairly active. In the Leafy and Semi Leafy catalogues well-made OP1/BOP1s maintained, while bolder varieties together with poorer sorts were easier. Pekoe / Pekoe1s commenced firm, however, declined substantially towards the close of the sale, while the number of invoices remained unsold due to lack of suitable bids. (SD)

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