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A strong export buying for good quality orthodox teas from countries other than CIS destinations lifted prices at Cochin auctions this week.
The average price realisation was up by ₹7 in sale 26 at ₹166 against ₹159 in the previous week. Traders pointed out that good quality, high grown and well-made teas have fetched good prices, facilitating Russian buyers to look at Cochin auctions. However, it is to be seen whether Russian buyers would show interest in these grades at a high price of ₹300. They eyed Cochin auctions because prices in Kolkata are hovering in the range between ₹450-500, traders said.
Good liqouring teas rule firm
Buyers from Iran, Iraq, Turkey are showing interest in tea from the Cochin auction centre which led to the prices to appreciate by a longer margin of ₹10 to ₹15 for select best Nilgiri whole leaf and brokens that witnessed a strong feature.
The auctioneers Forbes, Ewart & Figgis said clean, black, well-made, medium, whole leaf, brokens and tippy grades were higher by ₹5 to ₹10. The quantity offered was 4,19,892 kg and 76 per cent of the offered quantity was sold.
In CTC leaf, better brokens and Fannings are steady to firm and 90 per cent of the 50,500 kg of the quantity offered were sold.
In CTC dust, good liquoring teas were firm to dearer and appreciated further as the sale progressed. The quantity offered was 8,87,556.90 kg and 85 per cent of that was sold. The orthodox dust also witnessed a strong demand and was absorbed mainly by upcountry buyers and exporters.
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