Saturday, 12 August 2023 10:54

Iran barter agreement drives Colombo Tea Auction better teas Featured

Following improved activity from the shippers to Iran following the ‘Tea for Oil’ agreement, this week’s Colombo Tea Auction saw increased demand for the better teas in the High and Mid Grown sector and Low Grown Small Leaf/Tippy teas.

However, the total auction offerings were marginally lower and totalled 5.9 million kilogrammes.

The Ex-Estate offerings totalled 0.84 million kilogrammes. There was improved demand, particularly for the

better teas.The Best Western BOPs appreciated up to Rs.200 per kilogramme, whilst the others were firm and up to Rs.100 per kilogramme dearer.

The corresponding BOPFs gained Rs.100 per kilogramme and more following special inquiry. In the Below Best and Plainer categories, the clean leaf BOPs gained Rs.20-30 per kilogramme, whilst the others were firm and lower by a similar margin for the poor leaf types.

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