Export demand drove up orthodox tea prices at Kochi auctions, with an average price increase of ₹2 per kg.
The demand was strong in sale 54 – the last trading session in 2024 – with a 91 per cent sales of the offered quantity of 2,45,113 kg. There was active participation from buyers in Middle East and CIS countries, besides the support extended by upcountry exporters, the auctioneers Forbes, Ewart & Figgis said.
The market for whole leaf was fully firm to dearer following quality and brokens and medium whole leaf was firm to dearer.
CTC leaf also received a good demand with 92 per cent sales out of the offered quantity of 41,500 kg.
Trend to sustain
A leading tea exporter in South India said prices are likely to sustain for the time being due to lesser quantity in offerings. Moreover, the demand from overseas markets is on the higher side especially from Iran, Iraq and Middle East. This will continue for some more time until the new crop arrives by mid-March.
Demand for CTC dust was strong with good liquoring teas remaining firm to dearer. The quantity on offerings was 7,42,213 kg, registering 95 per cent sales. However, high-priced teas witnessed some resistance and tended to ease with some withdrawals. Medium teas were firm to dearer in line with quality. Plainer tea prices appreciated.
Orthodox dust market was strong and was firm to dearer with 100 per cent sales out of the offered quantity of 11,500 kg. Exporters and upcountry buyers absorbed a small quantity.