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The Kochi tea auctions are reported to be witnessing weak participation from Kerala buyers. A liquidity crunch is being cited as the reason.
The trend, according to trading sources, is likely to continue till March 31, as many of the buyers are reluctant to stock enough quantities due to cash problems.
Meanwhile, low arrivals continue to affect the market due to lower production in the High Ranges. The quantity on offer in CTC dust in sale no 10 was lower, at 8.43 lakh kg. The quantity on offer in orthodox dust was 9,500 kg.
In the Cochin CTC dust quotation, good varieties fetched ₹122-160, mediums quoted ₹96-133 and plain grades stood at ₹86-98.
In the leaf category, the market for Nilgiri whole leaf in orthodox varieties was firm to dearer by ₹5-10 a kg. The quantity on offer was 2.01 lakh kg.
Monica SFD topped the dust varieties at ₹161 a kg, while Glendale FBOPS topped the leaf grade, quoting ₹322.
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