Tea prices ruled flat at Kochi auctions despite Improved purchases by Iraq and Tunisian buyers of orthodox leaves.
In sale 19, the offered quantity of orthodox leaves was 2,51,121 kg and the sales percentage was 92 per cent. Traders say a single exporter alone bought over one lakh kg including almost all the grades of tea other than high-priced varieties. However, they anticipate a drop in procurement from Kochi in the coming weeks mainly because of improved tea arrivals at Kolkata auctions. Besides, widespread rains in South Indian tea growing regions are expected to improve the availability of the brew in other auction centres.
The auctioneers Forbes, Ewart & Figgis said the market for select best Nilgiri whole was firm to dearer. Secondary brokens from all segments witnessed a strong feature and appreciated in value.
Fair demand for CTC
CTC leaf had a fair demand with 82 per cent of the offered quantity of 27,500 kg sold. Kerala and upcountry buyers absorbed a small quantity.
However, CTC dust market was lower by ₹2-4 a kg and witnessed lot of withdrawals following quality. Blenders continue to be active of good liquoring varieties and they together absorbed 69 per cent of the offered quantity of 7,70,581 kg. However, the sales percentage was only 83 per cent due to subdued demand from loose tea traders. Export demand confined to bottom of the market. The average price realisation was down by ₹2 per kg at ₹137 .
In orthodox dust, the offered quantity was only 500 kg and 100 per cent sold.