Volumes drop to 5 mln at Colombo Tea Auction

Volumes declined further this week at the Colombo Tea Auction to 5 million kg and the sale was interrupted on Tuesday and Wednesday due to “connectivity issues” and finally concluded on Thursday, Forbes and Walkers Market report stated.

Ex-Estate offerings were limited to 0.56 million kg. Once again, in the backdrop of the declining volumes there was excellent demand and in most instances, firm to dearer prices.

In addition, the instability of the Sri Lankan Rupee amidst the current financial crisis in the country would have created an element of speculative buying.

Best Western BOP's gained Rs. 100 per kg and more following special inquiry, whilst the corresponding BOPF's were firm and up to Rs. 50 per kg dearer with select invoices appreciating further following special inquiry. In the Below Best category, better BOP's were firm, whilst the others appreciated Rs. 50-100 per kg. 

Nuwara Eliya BOP's gained substantially, whilst the corresponding BOPF's gained Rs. 50 per kg and more. Uva/Uda Pussellawa BOP's were firm and Rs. 50-100 per kg dearer. Corresponding BOPF's - Uda Pussellawas were firm and up to Rs. 50 per kg dearer. Uvas appreciated Rs. 50-70 per kg.

High & Medium Grown CTC teas followed a similar trend - BP1's were irregular, whilst the PF1's were up to Rs. 100 per kg dearer. Low Grown varieties - BP1's were up to Rs. 200 per kg dearer, whilst the PF1's gained Rs. 200-300 per kg and more as the sale progressed.  

Low Growns comprised 2.1 M/Kgs in the Leafy/Semi Leafy and Tippy catalogues. There was improved demand overall. Well-made teas together with a cross-selection of cleaner secondaries and cleaner teas at the bottom met with good demand. Shippers to Iran, Russia and Türkiye continued to operate aggressively. (Sunimalee)