Agri Business

Tea prices decline on subdued demand at Kochi auctions

V.Sajeev Kumar Kochi | Updated on February 26, 2021

Tea prices declined at the Kochi auctions this week on subdued demand, especially from North Indian buyers, in both the dust and leaf varieties.

Traders attributed the trend to the financial year-ending, the off-season in upcountry markets and the absence of local demand. However, the active participation of blenders and packeteers helped steady prices of some select varieties, they said.

This week (sale No. 8), the quantity offered in CTC dust was 10,34,096 kg, and 84 per cent was sold. The market was firm at the opening, but prices were irregular, lower. A lot of withdrawals were witnessed after the lunch break, auctioneers Forbes, Ewart & Figgis said. Leading blenders continued to be active in the auction, while upcountry buyers were selective. Exporters operated at the bottom of the market and covered only a nominal quantity.

The average price realised was Rs 166.78, almost the same as that quoted in the previous week.

The Orthodox dust market was lower, witnessing some withdrawals. The quantity offered was 10,000 kg, with a small quantity covered by exporters and upcountry buyers.

The leaf market was barely steady and in orthodox varieties, the prices of Nilgiri brokens and whole leaf declined following quality. Exporters to CIS countries lent only fair support. The quantity offered was 2,04,170 kg. But the average price realisation was up by Rs 5 at Rs 167 because of an increase in prices for medium and whole leaf grades, the auctioneer said.

In CTC leaf, the quantity offered was 62,000 kg and the market for brokens and Fannings was irregular and lower by Rs 3 to Rs 7 and sometimes more commensurate with quality.

Published on February 26, 2021

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor