Agri Business

Covid wave grips Kochi tea auction

V Sajeev Kumar Kochi | Updated on April 23, 2021

Prices subdued on North Indian buying

The second Covid wave reported to have its impact on tea prices in Kochi auctions especially on leaf varieties in the wake of a subdued buying from North Indian markets.

Traders hinted that there are delivery issues in many upcountry destinations due to movement restrictions with hardly any buying support from domestic as well as exporters. The chance for an improvement in the situation is unlikely for the time-being unless and until the Covid wave is controlled, traders feel.

Orthodox leaf the most sought variety in these markets was down especially select best Nilgiri brokens on a longer margin of ₹5-10 a kg and sometimes more. The quantity offered in sale 16 was 2,59,100 kg and only 79 per cent was sold. This was reflected in the average price realisation, which was down by around ₹10 per kg at ₹150 compared to ₹159 in the previous week.

Forbes, Ewart & Figgis, the auctioneers said exporters to CIS countries and West Asia lent only a fair support.

CTC leaf market was also lower by ₹3-5 on an offered quantity of 74,000 kg. The sold quantity was only 75 per cent.

CTC dust market prices declined by about ₹5-10 a kg and it was more as the sale progressed, witnessing heavy withdrawals. Improved arrivals from the High Ranges to the auction platform at 12,78,483 kg in the wake of a good crop in March has also its say on prices. However, the quantity sold was only 68 per cent. The average price realisation was down at ₹135 against ₹145 in the week before.

Kerala State Civil Supplies Corporation, which stayed away from the auctions for the two consecutive weeks, lent a fair support and operated on medium teas. There were improved enquiries from upcountry buyers and Kerala loose tea traders.

Orthodox dust market offered 16,500 kg in which primary grades were steady to firm. The secondary grades were lower and witnessed some withdrawals.

Published on April 23, 2021

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