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Subdued export demand, especially to Pakistan, seems to have impacted tea prices at Kochi auctions.
Sources in the trade said the export demand to Pakistan — one of the main buyers of South Indian CTC tea — was less in the recent period. The Kenyan drought has forced the neighbouring country to source more tea from India, but the border issues have made a pause on such shipments.
Of late, there are no direct export dealings to Karachi and they are utilising the service of a third country to meet their export requirements, sources added.
Meanwhile, the volumes at Sale No 21 have edged up due to increased arrivals from production centres. The auctioneers hoped that the arrivals will gain further with the completion of Ramadan fasting season by first week of June.
The quantity on offer in CTC dust was 7.72 lakh kg and the market was lower by ₹2-4 a kg. The average price realised was also lower at ₹123.80/kg compared to ₹124.36 previous week.
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