Tea prices declined at Kochi auctions this week as the Kerala State Civil Supplies Corporation (Supplyco) stayed away.
High-priced teas in Sale 17 was cheaper by ₹5-10 a kg while the drop in prices was less for medium and plainer varieties. However, PD grade witnessed a firm to dearer market, thanks to the full-fledged inter-State truck movement, traders said.
The quantity offered in CTC dust grades was 10,28,145 kg, which realised an average price of ₹120. Blenders and upcountry buyers were active on good liquoring teas, while exporters covered a small quantity. Kerala Loose Tea traders lent fair support, Forbes, Ewart & Figgis said.
The market in orthodox dust was also lower by ₹3-5 and witnessed a lot of withdrawals. The quantity offered was 13,000 kg and a small quantity was absorbed by upcountry buyers and exporters.
Relief for growers
Meanwhile, the Tea Board has released ₹1.51 crore to growers in Idukki, who are facing financial constraints due to the pandemic.
The Board has taken concerted efforts to provide assistance and incentives to all stakeholders of the tea industry, including small tea growers, to enhance the quality and the output price of the made tea in the market and thereby improving the overall performance of the sector. Big growers are also included in the scheme for replanting, field mechanisation, Orthodox tea production, etc.
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