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Tea prices declined at Kochi auctions this week, as Kerala State Civil Supplies Corporation abstained from the market for the second consecutive week.
CTC dust market was lower by ₹3-₹7 and sometimes more, especially high-priced teas. The quantity offered in sale 18 was 10,26,460 kg and 83 per cent was sold. The average price realisation was down at ₹114 compared to ₹120 in the previous week.
The auctioneers Forbes, Ewart & Figgis said that upcountry buyers lent useful support, while the demand from Kerala Loose Tea Traders was subdued. Exporters covered only a small quantity.
In orthodox dust, the market was lower by ₹3-₹4 and witnessed some withdrawals. The quantity offered was 5,000 kg and a small quantity was absorbed by exporters.
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