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Lower arrivals due to declining production in high ranges coupled with active blenders participation lifted tea prices, especially CTC dust, at Kochi auctions this week.
Traders said North Indian buyers are active due to production holidays there, which was a contributing factor for a rise in prices. The surging price trend is expected to continue for a few more weeks as future offerings are also lower.
In sale no 11, the market for good liquorings and popular marks of Kerala was firm to dearer. The quantity offered was 9,71,445 kg and of this, sold quantity was 77 per cent. Blenders together absorbed about 60 per cent of the quantity sold.
Exporters abstain
In orthodox dust, the demand was less with an offered quantity of 7,575 kg. Primary grades barely remained steady, while the rest was lower and noticed some withdrawals.
In the orthodox leaf market, some exporters abstained from the auction because of the uncertainty prevailing due to Russia-Ukraine conflict. While exporters to CIS and West Asia was selective and procured only required quantities. The market was lower with an offer of 2,18,291 kg and the sold quantity was only 62 per cent. The average price realisation was also down by ₹2 at ₹131 per kg.
The market for brokens and Fannings in CTC leaf was lower by ₹2 to ₹4 and witnessed lot of withdrawals. The offerings were 51,223 kg and the sold quantity was only 53 per cent.
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