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Good participation by local buyers has lifted tea prices, especially good liquoring varieties, both in the dust and leaf grades, at the Kochi auctions this week.
According to traders, the demand overall is picking up and the market is in steady mode with a good sales percentage and improved general demand.
The CTC dust market in sale 50 witnessed strong demand with 93 per cent of the offered quantity of 8,73,107 kg being sold. The market was dearer by Rs 5 to Rs 7 and it appreciated further to the tune of Rs 10, especially for powdery grades, as the sale progressed.
The average price realisation was up by Rs 5 at Rs 134, compared to Rs 128 of the previous week. There was good participation from major blenders, and together they absorbed 56 per cent of the total quantity sold, the auctioneers Forbes, Ewart & Figgis, said.
In orthodox dust, the market witnessed good demand, with 93 per cent of the offered quantity of 11,000 kg sold. Exporters absorbed a small quantity.
In the leaf category, orthodox varieties witnessed good demand with 77 per cent of the offered quantity of 2,59,600 kg sold. The market for good Nilgiri whole leaf, brokens and Fannings remained steady and tended to ease. Exporters to the CIS countries and West Asia lent fair support.
In CTC leaf, high-priced brokens and Fannings tended to ease. The quantity offered was 53,500 kg and there was active participation from upcountry buyers.
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