A general decline in tea prices despite weakening of Sri Lanka rupee

Total tea auction offerings showed a further decline and totalled 5.8 M/Kgs vis-à-vis 6.0 M/Kgs the previous week. Low Grown Large Leaf teas met with improved demand, whilst the High and Mid Grown Small Leaf teas declined in value.

Ex-Estate offerings were similar to last and totalled 0.9 M/Kgs. Sellers’ expectations following the weakening of the Sri Lankan Rupee did not materialise and it was disheartening to observe a general decline in rupee tea prices.

Best Western BOP’s declined Rs. 100 per kg and substantially more for last week’s select high-priced teas. Corresponding BOPF’s too followed a similar trend with a few select invoices selling around last week’s levels, whilst a majority declined Rs. 50-100 per kg and more for select high-priced teas of the previous week. In the Below Best category, a few select improved BOP’s were firm and up to Rs. 50 per kg dearer following special inquiry, whilst the others declined by a similar margin and more.