Tea prices in Kochi auctions have witnessed a declining price trend, thanks to the rise in future offerings. Conducive weather in the high ranges has facilitated a good production, resulting in increased arrivals of the brew in the auctions.
CTC dust market in sale 38 was lower by ₹2 to ₹3 and sometimes more as the sale progressed and witnessed some withdrawal. The quantity offered was 7,68,318 kg in which 87 per cent was sold with active participation of blenders, auctioneers Forbes, Ewart & Figgis said.
However, the decline in price was less for lower, medium and plainer teas. There was a subdued demand from loose tea traders and upcountry buyers. The average price realization was down by ₹1 at ₹141.
In orthodox dust, the quantity offered was 10,500 kg and the market barely remained steady. Exporters absorbed a small quantity.
In leaf sales, Nilgiri whole leaf and brokens were irregular and of lower following quality. The quantity offered was 2,65,047 kg and 85 per cent was sold. Well-made TFP and TFBOP witnessed a strong feature and prices were irregularly appreciated.
In CTC leaf, the quantity offered was 36,500 kg and 99 per cent was sold with a fair support extended by major packateers.