May 07, Colombo: There was excellent demand for the semi leafy and tippy tea varieties today at the tea auction held in Colombo where the 3.3 Mkg of Low Growns were on offer.

Select best and best tippy varieties continued to meet with excellent demand and prices advanced on last levels. The poorer types were barely steady. There was excellent demand from Iran and Turkey, whilst Russia, Jordon, Iraq, Syria, Saudi Arabia and other Middle Eastern markets were quite active.

In the leafy category, the select best OP1s shed Rs. 10/-, the balance also declined by a similar margin. The BOP1s declined Rs. 10/- to Rs. 15/-. The better OPAs were firm, but the balance shed Rs. 10/- to Rs. 15/-. There were less demand for OPAs and the prices declined Rs. 10/- to Rs. 20/-. The Pekoe1s declined Rs. 5/- to Rs. 10/-, however, the bold Pekoes yet again continued to meet with excellent demand and prices advanced Rs. 10/- to Rs. 20/-. In the small leaf category, the select best and best FBOP/FBOPF1s met with excellent demand and prices advanced Rs. 10/- to Rs. 20/-. The below best types also advanced Rs. 5/- to Rs. 10/-.

The prices for today’s 1.1 Mkgs of Ex-Estate teas that came under the hammer continued its downward trend, mainly due to the drop in product quality. However a few BOP/BOPF invoices where quality was maintained sold well, with buyers competing strongly against the limited availability of such teas. The below best and plainer Western BOP shed Rs.10/- to Rs.15/- where as the below best BOPFs too shed by a similar margin and more. The plainer BOPFs however maintained last week levels of Rs.240/-.