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A strong purchase made by buyers from Iraq has lifted the sales of orthodox teas at Kochi auctions. Out of the offered quantity of 2,02,362 kg in sale 10, the sales percentage registered 91 per cent.
According to traders, Iraqi buyers preferred medium and plainer types which are readily available across South Indian centres. The absence of auctions in the North due to winter holidays also prompted buyers to look for the brew from South India. With the fag end of the financial year, the market is witnessing a rush buying to meet the export commitments which has to be completed before March 31.
The average price realisation was up by ₹4 at ₹146 with the whole leaf becoming dearer. The auctioneers Forbes, Ewart & Figgis said that widespread demand was forthcoming from exporters to CIS, Middle East countries and Tunisia.
Also read: Indian cotton growers hold back produce as prices top ₹60,000 per candy
CTC leaf also witnessed 93 per cent sales with major packateers extending useful support. The quantity offered was 48,000 kg.
The dust market was lower especially for high-priced teas despite a 90 per cent sales out of the offered quantity of 5,92,800 kg. Blenders were active but absorbed less quantity compared to last week. Exporters operated at the bottom of the market and covered nominal quantity.
Orthodox dust market was firm to dearer, witnessing a 100 per cent sales out of the offered quantity of 10,000 kg.
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