CTC dust prices in Kochi auctions increased by ₹10-20 per kg this week, thanks to Indcoserve, the Tamil Nadu-based tea co-operative federation, in stepping up its purchase.
According to insiders in the auctions, there are reports that the Tamil Nadu-based firm has made heavy procurement for including the brew in the food kits to be supplied for the people in the State.
The auctioneers Forbes, Ewart & Figgis noted that Indcoserve was active across the board in Sale 19 and the price increase was reflected more for medium and plainer varieties vis-a-vis high-priced teas. Major blenders and Kerala State Civil Supplies Corporation also lent a useful support, and all these firms together procured 80 per cent of the offered quantity of 10,50,471 kg.
A strong demand in the trading sessions has led to the rise in average prices that went up to touch ₹143.69 from ₹133.72 — an increase of ₹10 per kg.
Orthodox dust market was also firm with an offered quantity of 11,751 kg in which Indcoserve and exporters absorbed a small quantity sold.
However, the leaf sales were down with average price realisation declined to ₹149 from ₹156. The market for Nilgiris whole leaf, brokens and fannings in orthodox leaf barely remained steady and tended to ease. The quantity offered was 2,46,575 kg. Exporters to CIS countries and West Asia lent only a fair support.
But the demand for CTC leaf was good with 98 per cent of the offered quantity of 57,317 kg sold because of the active participation of blenders and upcountry buyers. The market for brokens and fannings was dearer by ₹5-7 per kg and sometimes more in line with quality, the auctioneers said.