Tea prices. Subdued demand, selective buying hit CTC dust tea prices in Kochi

A subdued demand and selective buying by all sections of the trade has hit tea prices in Kochi, reporting a price drop of ₹3-5 this week.

Amid low arrivals at 7,16,870 kg in sale 36, the market in CTC dust was lower by ₹2 to ₹4 and it discounted further by ₹5 to ₹10, witnessing heavy withdrawals with the progress of the sale. The quantity sold was only 71 per cent. The average price realization was down at ₹120 against ₹126 in the previous week. There was a subdued demand from upcountry buyers and Supplyco, while exporters confined to bottom of the market.

The market for orthodox dust was also lower with 14,000 kg was on offer. Of this, 28 per cent was sold. Upcountry buyers and exporters absorbed a small quantity, the auctioneers Forbes, Ewart & Figgis said.

However, active exporters participation especially to CIS countries and West Asia lifted leaf tea prices especially Nilgiri whole leaf and brokens which appreciated by longer margins of ₹5 to ₹10, following quality. The quantity offered was 2,37,532 kg and 71 per cent was sold. There was more number of exporters in the auctions compared to last week.

But the demand was less in CTC leaf with only 65 per cent of the offered quantity of 55,000 kg was sold. The market for brokens was lower and witnessed lot of withdrawal. Upcountry demand was also subdued in this particular variety.

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