Agri Business

Kochi sale: Leaf teas gain steam on North Indian buying

V Sajeev Kumar Kochi | Updated on May 10, 2021

Market likely to be firm because of production drop, lower deployment of required workers in plantations, absence of rains

Prices of leaf teas showed some improvement in Kochi auctions, thanks to increased North Indian buying due to a lower production there.

This has led to an increase in auction average price of leaf teas at ₹156 in sale 18 from ₹152.

Trade sources said the market is likely to be firm in the next couple of weeks because of low sentiments prevailing in North Indian markets in view of a production drop, lower deployment of required workers in plantations, absence of rains, etc. All these factors led to increased sourcing of tea from South Indian auctions.

Quantity offered & prices

The quantity offered in leaf grades this week was 2,06,452 kg and of this, 88 per cent was sold. The auctioneers Forbes, Ewart & Figgis said medium whole leaf and brokens was firm to dearer following quality, witnessing some withdrawals as well. There was an active participation of exporters to CIS countries and West Asian markets.

CTC leaf market was higher by ₹5-7 and sometimes more. Witnessing a strong demand, 100 per cent of the offered quantity of 41,500 kg was sold with an active participation from upcountry buyers.

In CTC dust, the market was lower by ₹2-5 and it became firmer following quality when the sale progressed. Major packeteers and regional blenders were active and the market focus was mainly on internal buying, traders said.

The offered quantity was 10,97,794 kg and the average price was up at ₹133.72 against ₹131 in the previous week. Exporters’ offtake was better compared to last week, the auctioneers said, adding that improved demand was forthcoming from upcountry and Kerala buyers.

Orthodox dust market was lower and witnessed some withdrawals. The offered quantity was 9,000 kg and exporters absorbed a small quantity.

Published on May 07, 2021

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