Fair demand at Tea Auction

Yesterday’s Ex-Estate market comprising a large weight of 1.2 Mkgs, which was 300,000 Kgs more than the previous week met with fair demand.

The Western BOP/BOPFs at the commencement of the sale were Rs.5/- to Rs.10/- easier, however strengthened and ended the sale being firm to a few rupees easier.

Nuwara Eliya BOP/BOPFs which moved up substantially last week could not be sustained and consequently the prices declined Rs.25/- to Rs.30/- on average with a number of invoices remaining unsold.

Uva BOP/BOPFs too were of an easier market with average price declines of Rs.10/- to Rs.15/-. A few Low Grown CTC PF1s sold well appreciating in value whilst others were firm to a few rupees easier.

High and Medium grown PF1s mostly maintained. BP1s declined Rs.5/- to Rs.10/-. The tea bag sector and Russia lent fair support, whilst UK, Japan and Continental buyers too were active.