Colombo Tea Auction – Weekly Update
Sale No: 10 was concluded this week ( 07th and 08th March ) with a total of 5.0Mkgs on offer.
The Sri Lankan National average stood at Rs.596.85 per kg for the month of February 2017. This is significantly higher [47%] to the Rs.403.87 achieved during the same month in 2016. The sale averages achieved in the second month of 2017 is the highest ever recorded, marginally bettering the previous best recorded in January.
Today’s Ex Estate sale consisted 0.68 Mkgs. Western High Grown BOPs were firm to a littler dearer at times, whilst the BOPFs were firm at the start of sale, but advanced as the sale progressed. Nuwara Eliya BOPs were dearer, but irregular at times. The BOPFs too gained substantially. However demand for the liquoring leafy grades showed a decline. Udapussellawa BOPs were firm, whilst the BOPFs too were firm to a little dearer. Uva BOPs were irregular following quality, whilst the BOPFs gained marginally. CTC BP1s from all elevations sold well, whilst the PF1s too met with firm demand.
There was good demand for the 2.4 Mkgs of Low Growns that were on offer. BOP1/OP1s advanced in value. OP/OPAs too gained substantially above last. Pekoe/Pekoe1s too appreciated. There was good demand for BOP/BOP.SPs and prices advanced a few rupees above last. BOPF/BOPF.SPs too attracted good demand. There was strong demand for the FBOP/FBOPF1s on offer. Tippy varieties too advanced above last levels.
There was good demand from Russian, Syrian, Iranian, Turkish and Saudi buyers.
The Colombo Tea Auction is conducted under the Bye-Laws and Conditions of the Ceylon Chamber of Commerce.