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A revival in export buying in a limited way has brought some cheers to the Kochi tea auction market, witnessing a good demand for orthodox leaves.
Traders said buyers actively participated in sale 40 from Iraq, Tunisia and Iran which was mainly routed through Dubai with 81 per cent of the offered quantity of 3,12,655 kg sold. They said the export market has not yet reached its full potential, but indications are positive and there could be an upward trend in the coming weeks.
The auctioneers Forbes, Ewart & Figgis said the market for select best Nilgiri and medium whole leaf was firm to dearer, fetching attractive prices. CIS and West Asian exporters are also active coupled with a good interest shown by upcountry buyers.
There was a good demand for CTC leaf with 92 per cent of the offered quantity of 42,500 kg sold in which exporters absorbed a small quantity.
However, the dust market witnessed a subdued demand with blenders not being active. The quantity sold in CTC was 10,47,000 kg with sales percentage of 80. The market for good liquoring was sometimes dearer especially popular marks from Kerala.
Traders said CTC market is witnessing a subdued demand after Onam with only a fair support extended by upcountry and local buyers. Exporters operated at the bottom of the market.
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