Active support from exporters led to increased sales for orthodox teas in the Kochi auction, witnessing strong demand.
The sales percentage in Sale No. 9 was 95 of the offered quantity of 1,74,251 kg, with active support from Middle East buyers and CIS countries, the auctioneers Forbes, Ewart & Figgis said. The prices for whole leaf were steady to firm and sometimes dearer following quality, while higher-end brokens were irregular and lower-end ones appreciated in value.
- Also read: Orthodox leaf prices move up at Kochi auctions on low arrivals, export demand
Traders attributed the higher sales percentage in Kochi to winter holidays in North India, which facilitated buyers to purchase tea from South India. However, the offered quantity in Kochi was also lower due to climatic conditions in the production centres, they said.
The demand for CTC leaf was only fair, with a sales percentage of 74 of the offered quantity of 35,500 kg. Kerala and upcountry buyers lent fair support, while demand from blenders was subdued.
CTC dusts down
Despite strong demand, CTC dust prices were down, with the market for good liquoring teas tending lower by ₹1 to ₹2 and sometimes more. The decline was less for medium and plainer teas. The offered quantity was 6,68,124 kg, and all blenders together absorbed 64 per cent of the total CTC quantity sold. Fair enquiry was noticed from Kerala loose tea traders and upcountry buyers. The average price realization was down by ₹1 at ₹162 compared to ₹163 in the previous week.
The orthodox dust market was irregular and lower, with upcountry buyers and exporters remaining the mainstay of the market. The quantity offered was 6,000 kg, witnessing 100 per cent sales.
