Colombo Tea auction prices prevailed at lower rates this week that saw 5.98 million kg of tea on offer with 2.48 million kg from the Low Grown Main Grades and 2.11 million kg in the High and Mid Grown Main Grades.
In the Low Grown Leafy and Semi leafy catalogues select best together with best BOP1/OP1s declined substantially, whilst below best varieties declined to a lesser extent. Teas at the lower end were barely steady. Well-made OP/OPAs in general declined substantially, whilst a fair number of invoices remained unsaleable due to lack of suitable bids.
Demand at sharply lower rates prevailed at this week’s Ex-Estate auction. Except for a few coloury Western BOPs which were about firm, the others and Western BOPFs lost Rs.50 to Rs.150 and more. Nuwara Eliya BOP/BOPFs were a lower market. Udapussellawa BOP/BOPFs were lower by Rs.100 to Rs.150. Uva BOP/BOPFs too lost Rs.50 to Rs.100 and more at times. Medium BOP/BOPFs were lower by Rs.100 and more. CTC BP1s were about firm to slightly dearer. CTC PFs lost Rs.100 to Rs.150 and more. (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.
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