Subdued demand from blenders keeps a lid on tea prices at Kochi auctions

Subdued demand from blenders has impacted tea prices at the Kochi auctions this week, with the market for good liquoring varieties remaining steady to firm.

The prices, which rose by Rs 1 to Rs 2 as the sale progressed, were irregular and sometimes lower. The quantity on offer in the dust CTC category in sale no 48 was 10,20,705.80 kg and upcountry buyers lent fair support, the auctioneers Forbes, Ewart & Figgis said. The average price realised was Rs 116.45 per kg.

Traders expect a drop in arrivals in the coming weeks as erratic weather continues to affect production in the high ranges, which is expected to push up prices.

The orthodox market was also lower and witnessed withdrawals. The quantity on offer was 12,000 kg, a small quantity of which was absorbed by exporters. Export demand is expected to pick up by mid-January, with most buyers having made adequate stocks of the orthodox variety for the winter season.

In the Cochin CTC dust quotation, good varieties fetched Rs 112-156, the mediums realised Rs 82-135 and plain grades stood at Rs 72-84.

In the leaf category, the market for Nilgiri whole leaf and brokens in orthodox was higher by longer margins of Rs 5 to Rs 10 and sometimes more. The quantity on offer was 2,29,459 kg and the average price realised was Rs 135.49 per kg, up from the previous week.

In CTC leaf, the market for good liquoring brokens was steady to firm and sometimes dearer. The quantity on offer was 36,500 kg.

Monica SFD produced by the Woodbriar Group realised the best prices of Rs 160/kg in dust grades, while Chamraj FOP from the United Nilgiri Tea Estates came to the top in leaf, quoting Rs 269/kg.

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