General Election slows Colombo tea auction this week

Business

Election week and holidays have limited sales of tea at the Colombo auctions this week as a result a total of 4 million kg was on offer and there had been a decline of prices in some categories.
Considering the lesser volume, demand was slow due to the restricted number of working days.
Broker Forbes and Walkers states that High and Medium Grown CTC’s continued to be a weak feature with many poor leaf/thin liquoring teas being difficult for sale. The corresponding low grown types continued to attract strong demand and recorded a dearer trend in prices. There was good demand for particularly well-made teas in the Low Growns. (SD)

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