Sale No: 13 was concluded on te 27th and 28th March, 2017 with a total of 5.5 Mkgs on offer.
During the first three months of 2017, price levels at the Colombo Auctions have shown an increase over the same period of the previous year. Whilst the world tea production is sluggish, tea prices are expected to remain moderately high in 2017 due to the rise in tea consumption. Crop deficits have been recorded in Kenya, South India and Sri Lanka in the past 12 months when compared to the previous year.
The 0.89 Mkgs of Ex Estate teas on offer met with lower demand. Western BOPs were selectively dearer, whilst the BOPFs were mostly easier. Bright Nuwara Eliya BOPs maintained last levels, whilst the BOPFs were substantially dearer. The Uva/Udapussellawa BOPs gained, whilst the BOPFs were mostly easier. CTC BP1s from all elevations met with good demand and gained as the sale progressed. The Low Grown PF1s were fully firm to a littler dearer at times, whilst the High and Medium types were firm, however some of the poorer types declined.
There was fair demand for the 2.5 Mkgs of Low Growns that were on offer. Prices for OP1s, maintained. Select best BOP1s were firm, however the best and below best eased a few rupees, whilst the poorer types were firm. Better OPs were mainly firm, however the poorer sorts advanced a few rupees. Select best OPAs were steady however the best and below best types eased a few rupees, poorer varieties moved up a few rupees on last. Best Pekoes were steady, however the bolder types met with strong demand and advanced sharply. Pekoe1s were steady. Better BOPs shed a few rupees on last levels, the balance were firm. Better BOP.SPs were firm, however the others eased a few rupees. Better BOPF/BOPF.SPs were steady, however the balance tended a little lower to last. FBOPs declined a few rupees, whilst the FBOPF1s maintained. Tippy varieties shed a few rupees on last levels.
There was fair demand from shippers to Russia, Syria, Iran, Iraq, Turkey and other Middle Eastern markets.
The Colombo Tea Auction is conducted under the Bye-Laws and Conditions of the Ceylon Chamber of Commerce.