Agri Business

Supplyco’s participation lifts prices at Kochi tea auctions

V.Sajeev Kumar Kochi | Updated on April 08, 2020 Published on April 08, 2020

The active participation of Kerala State Civil Supplies Corporation lifted prices of dust varieties at Kochi Tea auctions, which was held here after a gap of 20 days following the lockdown.

The market was higher by ₹10-15 and sometimes more in Sale 13. The auctioneers Forbes, Ewart & Figgis said shortage witnessed in the secondary and tertiary market also contributed to the surge in prices.

The total quantity offered was 8,90,264 kg, out of which 8,19,389 kg was sold at an average price of ₹120.90 per kg as against ₹112.64 per kg in the previous sale. According to auctioneers, 92 per cent of the quantity was sold as against 67 per cent in the previous sale.

Kerala State Civil Supplies Corporation was the major buyer that procured around 2.5 lakh kg. Kerala loose tea traders and upcountry buyers provided support, while exporters lent fair support at the bottom of the market, the auctioneers said.

Traders pointed out that Supplyco has made such heavy purchase as part of including tea in the food kits of essential items to be distributed during the lockdown period.

In Cochin CTC dust quotation, good teas fetched ₹109-169, medium teas realized ₹80-135 and plainer teas were quoted at ₹76-99.

Monica SFD fetched the highest price of ₹169, followed by Mayura SFD at ₹158 and Murugan SFD at ₹155.

In the orthodox dust, the quantity offered was 4,450 kg, which was sold around the last level. A small quantity sold was absorbed by exporters and upcountry buyers.

Published on April 08, 2020

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