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Several varieties of teas, especially in CTC and Orthodox dust and leaf grades, witnessed heavy withdrawals in Kochi auction due to low or lack of bids.
Despite good arrivals compared to last week, prices for almost all varieties declined at the auction with a subdued demand from upcountry buyers.
In sale no 44, the quantity on offer in CTC grades was 13,41,500 kg, showing an increase in arrivals compared to last week level.
According to auctioneers, Forbes, Ewart & Figgis, the market was lower by ₹3-5 a kg and sometimes more up to ₹10. Exporters confined to medium and plainer varieties.
With a less demand, the quantity on offer in the Orthodox grades was 19,500 kg. In the best Cochin CTC dust quotation, good varieties quoted ₹84-132, medium fetched ₹65-105 and plain grades stood at ₹54-62.
Nilgiri Brokens Whole Leaf, Fannings were irregular and lower by longer margins of ₹5-10. The quantity on offer in CTC grades was 97,000 kg and the quantity sold was only 45 per cent.
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