Prices of Sri Lanka teas were mixed at the latest auction with high grown varieties attracting higher prices while low grownups declined in value due to poor quality, brokers said. The estimated gross sales average from the auction on Tuesday and Wednesday was 195.37 rupees ($1.96) per kg, lower than last week's 196.00 rupees per kg, Forbes and Walker Tea Brokers said in a statement.

Prices of high grown teas like Broken Orange Pekoes (Bops) from the high altitude Nuwara Ely region gained 5.00 to 8.00 rupees per kg. Most varieties of low grownups declined in value with prices of some teas falling by 10.00 to 15.00 rupees per kg.

"There was a large quantity of low grownups on offer this week but the quality was uninteresting so the prices fell," said a broker with Forbes and Walker. There was good demand from Saudi Arabia, Jordan, Dubai and Syria, with selective buying interest from the United Kingdom and Japan.

A total of 5.8 million kgs of tea were on offer this week and a similar quantity is expected to be on offer at the next auction.

Copyright Reuters, 2005