Overall, quality of teas on offer this week was lower to last and totalled 7 M/kgs. A weaker market sentiment resulting from a combination of large volumes and lower quality. The impact was greater for Small Leaf teas as the market was unable to absorb the increased volumes of Plain/Poor Leaf teas on offer.
Ex-Estate offerings comprised of 1.1 M/kgs, recording a marginal increase on last week's offerings. Quality of teas showed a further decline with an increase in volumes of Plain/Poor leaf teas on offer. Overall, prices declined Rs. 20-30/- per kg and unsold volumes exceeded 25%.
Prices for the better Western BOP/BOPF's recorded a decline of Rs. 20-30/- per kg, with the exception of a few select invoices that appreciated following special inquiry. At the lower end, BOP's eased up to Rs. 40/- per kg, whilst the corresponding BOPF which commenced firm, weakened towards the close. Nuwara Eliyas - the limited availability of BOP's barely maintained its last week's levels, whilst the corresponding BOPF declined by an average of Rs. 20/- per kg. Udapussellawa BOP's were irregular and mostly easier, whilst BOPF declined Rs. 20-30/- per kg, with the exception of a few select invoices that appreciated on last following special inquiry. CTC teas declined Rs. 20-30/- per kg all round, in keeping with the market sentiment experienced this week at the Mombasa Auctions.
Low Growns comprised of approximately 2.9 M/kgs in the Leafy/Tippy catalogue. There was fair demand at slightly lower levels. In the Leafy catalogue, a few select best BOP1's together with a range of below best types were firm to irregularly dearer. Others and OP1's were mostly lower to last. Select best PEK/PEK1's were irregularly dearer. All others commenced around last levels but declined towards the close. Better OP/OPA's were firm, whilst others declined following quality. In the Tippy catalogue, select best FBOP/FF1's were fully firm to dearer, whilst cleaner secondaries were barely steady. All others were easier following quality. In the Premium catalogue, a select range of smaller Tippy varieties maintained, whilst others were irregular and mostly lower to last. There was fair demand from shippers to CIS, Turkey and Iraq at this week's sale.