After witnessing a declining trend in the last couple of weeks, the orthodox leaf market at Kochi tea auctions received a boost this week, thanks to a bulk procurement made by an overseas buyer.

Traders said an Iraqi buyer purchased 1 lakh kg of orthodox leaf from Sale 8 for which he has placed the order when prices witnessed a dropping tendency. The bulk purchase has generated a good overall demand in the trading session with 91 per cent of the offered quantity of 2,67,687 kg sold. With 50-60 per cent of the orders covered in the current fiscal, traders said the fag end of the financial year is expected to dispatch more such shipments.

Auctioneers Forbes, Ewart & Figgis said CIS exporters were active in the orthodox leaf market, while shippers to other destinations lent only fair support. Nilgiri whole leaf, brokens and Fannings were firm and appreciated in value following quality. The average price realisation was up by ₹5 at ₹159 against ₹154 in the previous week.

CTC leaf slips

The CTC leaf market was lower despite selling 91 per cent out of the 32,000 kg offered. Exporters covered only nominal quantity of this particular grade.

However, the demand for CTC dust was subdued with prices remaining lower by ₹2 to ₹3 on lower arrivals at 8,07,184 kg. The declining prices were mainly for high-priced varieties. The quantity sold was only 86 per cent with blenders absorbing 65 per cent of the offered brew, the auctioneers said.

The average price realisation in dust category was down at ₹149 per kg compared to ₹152 in the previous week.

Orthodox dust witnessed only a fair demand with 52 per cent of the offered 3,000 kg sold.

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