Low arrivals and export demand lifted orthodox leaf prices at Kochi tea auctions this week. The auctions witnessed a higher sales percentage.
Auctioneers Forbes, Ewart & Figgis said the offered quantity in orthodox leaf was 2,10,891 kg in sale no:8 in which the 93 per cent of the offerings were sold. Exporters to the Middle East and CIS countries were active, while demand was witnessed from upcountry buyers. The market for whole leaf was firm to dearer, while brokens was irregular and lower.
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CTC leaf also witnessed a good demand with brokens and fannings becoming dearer. The offered quantity was 29,000 kg with a sales percentage of 74.
Concern over arrivals
However, CTC dust market was lower by ₹1-2 per kg and sometimes more due to a subdued demand from loose tea tradetraders and upcountry buyers. The offered quantity was 7,18,866 kg with a sales percentage of 79. Traders said there is a concern in the market on further decline in arrivals due to lower crop in the high ranges in the absence of sufficient pre-summer rains.
Orthodox dust market was firm to dearer, witnessing a 98 per cent sales out of the offered quantity of 8,500 kg. Upcountry buyers and exporters absorbed a small quantity of orthodox dust sold.