A subdued upcountry and export demand has hit tea prices – both dust and leaf varieties – at Kochi auctions.
The average price realisation in dust grades was down at ₹175 against ₹178 a kg on an offered quantity of 5,60,527 kg in sale 41. The market for PD grades witnessed weak feature and the prices was lower by ₹3-5 and more. Low medium and plainer teas was lower by ₹5-10.
The price difference between good liquoring and poor teas, which was very narrow, has widened as a result of price correction based on quality, the auctioneers Forbes, Ewart & Figgis said.
The quantity offered in orthodox dust was 25,500 kg and the prices was lower. It also witnessed some withdrawals.
In orthodox leaf, the market for Nilgiri brokens and whole leaf barely remained steady and tended to ease. The quantity offered was 2,61,576 kg and exporters to CIS countries and other destinations lent fair support. The average price realisation has come down to ₹167 from ₹173 a kg.
In CTC leaf, the market for select best brokens and Fanning was steady to firm, while the rest was irregular and lower by ₹3-5. The quantity offered was 96,000 kg.
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