Sale No: 8 was concluded this week with a total of 5.8Mkgs on offer. (21ST and 22ND FEBRUARY 2017)
Sri Lanka harvested a crop of 21.3Mkgs during the Month of January 2017 falling short of its previous year’s crop of 25Mkgs, a substantial decrease of 15%. The main contributor for the 21.3Mkgs was from the Low Grown planting districts with 65.8% followed by the High Growns at 21.4% and the Low Growns at 12.92%. When compared with the 2016 harvest, negative variances have been recorded in the Low Growns at 12%, Medium Grown at 24% and the High Grown at 18%.
The Sri Lanka Tea Exports for the Month of January 2017 was recorded at 20.2Mkgs which is a decrease of 16.4% when compared to the same period of the previous year. The FOB value was Rs.162.50 above the FOB value of 2016. As a result the value of the Tea Exports for the first month of the year has exceeded by Rs.932 Million over the previous year. Russia has emerged as the leading importer of Sri Lanka Tea. The other Major importers of Sri Lanka Tea are Turkey, Iran, Iraq and Libya. Other countries such as Azerbaijan, U.A.E., China and Japan have also lent useful support.
There was lower demand for the 0.8 Mkgs of Ex Estate teas on offer. A limited selection of well-made bright teas with seasonal character sold well. The other good invoices were generally easier for both BOP & BOPF grades. The plainer sorts were irregular, but mostly lower with some of the more coloury invoices gaining in value.
Nuwara Eliya BOPs sold well, whilst the BOPFs were tending easier. The liquoring leafy grades were mostly lower. CTC PF1s were firm to at times dearer, whilst the BP1s too followed a similar trend.
There was fair demand for the 2.7 Mkgs of Low Growns that were on offer. OP1/BOP1s appreciated above last levels. OP/OPAs however declined a few rupees, whilst Pekoe/Pekoe1s too were easier to last. BOP/BOP.SPs and BOPF/BOPF.SPs were a little lower to last. Better FBOPS maintained, however the best and below best moved up a few rupees. Select best FBOPF1s maintained. Tippy varieties met with irregular demand.
Russian, Syrian, Iranian, Turkish and Saudi buyers were active.
The Colombo Tea Auction is conducted under the Bye-Laws and Conditions of the Ceylon Chamber of Commerce.