Agri Business

Buyers end boycott of Kochi tea auctions

V SAJEEV KUMAR Kochi | Updated on January 18, 2018 Published on July 29, 2016

After staying away for five weeks in protest against some provisions in the pan-India tea auction system, buyers participated in the Kochi tea auctions on Friday.

According to auctioneers Forbes, Ewart & Figgis, all sections of the trade operated in sale no 30, which witnessed active participation by leading and regional blenders.

Good demand saw the price of CTC dust surge with the market for good liquoring teas rising by ₹5-10 a kg. Medium teas were steady to dearer by ₹2-4.

However, plainer teas were irregular, lower and witnessed some withdrawals. The quantity on offer in CTC dust grades was 7,78,500 kg. Upcountry demand was subdued.

Demand for CTC orthodox was lower, and the quantity on offer was 17,500 kg. The market was down and witnessed heavy withdrawals. Exporters absorbed a small quantity offered.

In the Cochin CTC dust quotation, good varieties fetched ₹109-153, mediums quoted ₹94-125 and plain grades stood at ₹85-97.

The leaf sale also witnessed good demand. The market for high-grown brokens, whole leaf, and Fannings in orthodox grades was firm to dearer by ₹5-10. Clean, black, well-made medium brokens, whole leaf and Fannings appreciated in value. The quantity on offer was 140,000 kg.

However, the CTC leaf market eased and the quantity on offer was 29,000 kg. Kerala buyers and exporters shared the bulk of the segment’s offerings.

Published on July 29, 2016
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