Ramadan demand boosts good liquoring tea sales at Kochi auctions

With a firming up price trend in CTC dust, good liquoring teas in Kochi auctions registered a higher sales percentage on increased purchase ahead of Ramadan.

Traders attributed the rising sales of good liquoring varieties in sale 8 to meet the demand for the ensuing Ramadan fasting where the market witness a good sales for quality teas especially from the Muslim-dominated areas in North Kerala.

• Also read: Indian tea producers likely to be hit by Iran-Lanka tea-for-oil barter pact

Out of the sold quantity of 7,24,741 kg, the sales percentage was 96 realising an average price of ₹137. The auctioneers Forbes, Ewart & Figgis said the market was steady to firm and sometimes dearer when the sale progressed. Blenders together absorbed 54 per cent of the total quantity sold.

Orthodox dust sales slip

However, the sales percentage in orthodox dust was only 46 out of the offered quantity of 10,500 kg. The market was lower with exporters and upcountry buyers absorbing a small quantity.

In orthodox leaves, traders are anticipating some improved enquiries or purchase from North Indian buyers in the coming weeks from Kochi in view of the dropping of sale 9,10,11 and 13 in Kolkata auctions due to lack of enough quantity.

In orthodox sales, the whole leaf witnessed strong features and appreciated in value. The quantity offered was 1,68,995 kg with a ₹3 increase in average price realisation at ₹138 against ₹135 in the previous week, due to the reported rise in unsold quantities.

• Also read: Higher export prices prompt tea producers to focus on overseas markets

Exporters to Middle East countries and CIS countries lent fair support along with Tunisian account. However, some exporters have raised their concern over Sri Lankan tea making inroads into the Iran market, saying that it is likely to have an impact on teas from the North. Iraq has now turned out to be the major market for Indian orthodox grades.

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