Colombo tea auction sees good demand for 5.9 mn kg on offer

Business

The Colombo tea auction this week saw 5.9 million kg of tea on offer, in which low frowns had met with fair demand, tea brokers Asia Siyaka stated in its weekly report.
It said that the values appreciated in the select best BOP1/OP1s while others sold at dearer rates too.
OP/OPAs were firm on last week’s levels and the Pekoe’s sold at dearer rates. Pekoe1’s were firm to dearer.
In the Tippy Small leaf catalogues FBOP1s gained in value, while select best FBOP / FBOPF1s held firm; below best sold at lower rates.
FBOPFs appreciated in value all-round. BOP / BOPFs were firm to dearer all-round. In the Premium Flowery catalogues long leaf select best varieties sold at lower rates, whilst others held firm. Select best FBOPFSP varieties held firm; below best and others lost out in value. Fair general demand prevailed at this week’s Ex-Estate auctions. Select best Western BOPs tended irregular on quality, whilst below best were firm to Rs. 30 dearer. Best Western BOPFs maintained; whilst below best were irregular; bottom was firm to slightly dearer.
In July, revenue from tea exports rose to Rs. 24.3 billion ($130 million), an increase of Rs.4.8 billion ($26 million) compared to July 2019, the report stated. (SD)

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