Volumes decline at Colombo tea auction

Business

Auction volumes declined this week at the Colombo tea auction to 5 million kg but there was good general demand.

Select BOP/BOPF invoices appreciated by Rs.100 per kg plus for a useful selection of seasonal Westerns which were on offer.

The all-time record price of Rs.3050 per kg for a Western High Grown BOP was established by Somerset Estate.

The BOPF grade continued to secure a premium of Rs.200 per kg and above in most instances vis-à-vis the BOP grade.

Improved activity was seen from shippers to Iran that helped to stabilise Low Grown prices. (SD)

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