A renewed export buying in orthodox leaves in Kochi auctions especially at the beginning of the financial year has revived hopes of tea exporters in deriving a good business throughout the year.
Terming the trend as “positive”, a tea exporter in Kochi recalled that the export demand at the start of the last fiscal year was subdued. However, considering the buying pattern from overseas customers, he said the procurement this year is expected to continue for some more time. Buyers from Iraq, Tunisia and CIS were active in the market.
In sale 17, the average price realisation in orthodox was up by ₹5 at ₹166 per kg compared to ₹161 in the previous week. The quantity offered was 2,83,868 kg and the sales percentage was 86 per cent.
The auctioneers Forbes, Ewart & Figgis said the market for the best Nilgiri whole leaf witnessed strong features and prices were steady to firm and sometimes appreciated with a longer margin of ₹5 to ₹10. There was an active participation of exporters to West Asia and Tunisia. Upcountry interest was also noticed.
In CTC leaf, the quantity offered was 31,500 kg with a sales percentage of 90 per cent.
CTC dust market was strong with a sales percentage of 95 per cent out of the offered quantities of 7,81,547 kg, thanks to blenders support on good liquoring teas. The market was steady to firm and sometimes dearer by ₹1 to ₹3 and more following quality. There was a fair demand from loose tea traders and upcountry buyers, while improved export enquiry noticed at bottom of the market.
The sales percentage in orthodox dust was 100 out of the offered quantities of 2,500 kg. The market for primary grades was dearer with upcountry buyers and exporters absorbing small quantity of orthodox dust sold.