Agri Business

Chamraj green tea fetches record ₹527 per kg in Kochi auctions

V Sajeev Kumar Kochi | Updated on November 20, 2020

Chamraj Green Tea FOP (Supreme) has realised a record price of ₹527 per kg at the Cochin Tea Auction this week.

The tea was produced by Chamraj Tea Estate, owned by United Nilgiri Tea Estate Company Ltd, and auctioned by Forbes Ewart & Figgis (P) Ltd and bought by Blue Fox Agencies, Kottayam. This price could be the highest price quoted for green tea this season.

This is a good price, which shows that buyers are willing to pay price for good quality teas in the market, traders said.

Meanwhile the auction market continues to be buoyant following aggressive buying from Kerala State Civil Supplies Corporation and some packaters who together absorbed 67 per cent of the 7,56,508 kg offered in CTC dust sale 47.

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However, a section of the traders warned that sentiments in the market are likely to be down in the coming weeks, in the wake of the move by the Corporation to procure tea through e-tender without participating in the auctions. It cited the tender notice issued by the company in a leading regional daily. According to traders, Supplyco should desist from such a move in view of the availability of tea in the auctions as well as to encourage Kerala tea producers.

Traders also pointed out that revival of tea production in North India has dampened the demand across South India, hitting the prices in Kochi auctions as well especially for bolder varieties.

The average price realization in CTC dust was slightly up quoting ₹199.66 per kg from ₹198.47. The market for good liquoring and popular marks remained steady to firm and sometimes dearer. Low medium and plainer teas was irregular and sometimes lower.

In orthodox leaf, exporters to CIS and other destination lent useful support. The quantity offered was 2,32,187 kg. However, there was a drop in average price realization at ₹170.52 per kg from the previous week of ₹173.43.

ALSO READ: Coonoor tea auction earnings increase 59% on higher demand

Published on November 20, 2020

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