A consistent and strong demand from upcountry buyers lifted tea prices, especially for dust varieties, at Kochi auctions this week.
CTC dust witnessed a strong demand, with 97 per cent of the offered quantity of 4,95,880 kg sold in sale no 34. This was reflected in average price realisation, which went up to ₹165 compared to ₹155 in the previous week.
The market was dearer by ₹3 to ₹10 and sometimes more. It appreciated further as the sale progressed. The surge in price was more for low medium and plainer teas, auctioneers Forbes, Ewart & Figgis said.
Kerala loose tea traders was selective and subdued while exporters outpriced and absorbed negligible quantity.
In orthodox dust, the market for primary grades was higher, while secondary was firm to dearer. It witnessed some withdrawals. The quantity offered was 11,000 kg. Upcountry buyers and exporters absorbed only a small quantity offered.