The Kochi tea auction market seems to be regaining its strength, thanks to the opening up of restaurants and hotels in the State and the easing of Covid restrictions.
The local demand is firming up from Kerala buyers especially for cleaner teas and the enquiries are expected to improve further in the coming days at the CTC level, traders said.
However, the market revival for orthodox varieties has to wait for some more time for exports for the ensuing winter and Christmas demand from the US and Europe to pick up. The upcountry market is expected to pick up after the Puja festival which would make South Indian teas to rule steady and firm in the next couple of weeks. The North Indian market going for hibernation from December would benefit south Indian teas by the middle of this month, traders said.
Logistic support
Some exporters have raised concern over the reports of supply chain shock to continue for a few more years globally and they sought logistic support on the routes of tea to be ferried by entering into a MoU with Shipping Corporation of India.
N.Lakshamanan Chettiar, a Madurai based tea exporter, urged UPASI to discuss with shipping companies on the availability of containers, waiting time for ships in the ports and impress upon the importing countries for giving priority to food & beverages items. A memorandum should be submitted to the Consulates of those countries that import South Indian Tea with specific request to clear consignments expeditiously and the need to reduce the down time, he added.
Meanwhile in sale 40 at Kochi auctions, the market for powdery varieties of best and good was steady to firm and sometimes dearer. The quantity offered was 8,46,070 kg with 75 per cent sold. However, high-priced teas witnessed an irregular and easier market.
Selective buying
Orthodox dust market was lower and a fair quantity out of the 10,500 kg remained unsold. A small quantity was absorbed by exporters. With selective buying, exporters to CIS countries and West Asia lent only fair support. The quantity offered was 2,71,441 kg and 72 per cent was sold. The market for Nilgiri whole leaf and brokens barely remained steady and was lower by longer margins of ₹5 to ₹10. It also witnessed some withdrawals.
In CTC leaf, the market for good liquoring brokens was firm to dearer. The quantity offered was 46,500 kg.