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Total tea offered at the auction here in the second week of February dipped sharply to 6.1 mkg compared to a healthy 7.5 mkg last week. This is the lowest offer since the beginning of the year.
Part of the reason was the fall in ex-estate offering to 0.8 mkg. Ex-estate offerings had not gone down below the 1 mkg in the past two months.
Demand remained good, though at irregular rates. There was no significant movement in prices, particularly for the western planting districts, despite lower volumes.
According to Forbes and Walker Tea Brokers, on average Below Best and Plainer BOPs lost LKR 5 to 10 per kg although a few select BOPF invoices in the Best and Below Best category appreciated after special enquiries.
The price structure of NuwaraEliyas showed marginal improvement, while CTCs remained firm. Off grade and dusts gained LKR 5 to 10 per kg (for most grades) compared with last week.
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