Subdued demand from loose tea traders hit prices at Kochi auctions

The restrictive operations of Kerala loose tea traders due to lockdown and the rise in containment zones have impacted tea prices, especially powdery grades, at Kochi auctions this week.

The emerging situation has resulted in a subdued demand from loose tea traders in Sale 31, witnessing a weak price for powdery grades in CTC dust varieties. There was a declining price trend for high-priced teas and it witnessed lot of withdrawals, the auctioneers Forbes, Ewart & Figgis said.

The quantity offered in dust grades was 6,90,525 kg and the total quantity sold was only 82 per cent.

The average price realisation went up to ₹132 compared to ₹130 in the previous week. Blenders were active for grainier varieties, while upcountry buyers lent fair support.

In orthodox dust, the market was lower with an offered quantity of 14,000 kg. Exporters and upcountry buyers absorbed a small quantity sold.

However in leaf grades, the CTC varieties witnessed a strong demand with 99.6 per cent of the offered quantity of 79,000 kg was sold, thanks to active participation of upcountry buyers. The market for brokens and Fannings across the board was firm to dearer and outsold respective dust grades.

In orthodox leaf, the market for Nilgiri whole leaf and brokens barely remained steady and tended to ease. The quantity offered was 3,47,772 kg. Exporters to CIS countries and other destinations were active.

The average price realisation was also lower at ₹150 compared to ₹159 in the previous week.