Commodities

Lower arrival, better demand lift tea prices in Kochi

V Sajeev Kumar Kochi | Updated on October 30, 2020 Published on October 30, 2020

Lower arrivals and a better demand from Kerala buyers lifted tea prices, especially dust varieties, at Kochi auctions this week.

The market was dearer by ₹3 to ₹5 in sale 44 and prices appreciated more as the sale progressed. The average price realisation has also touched ₹192 compared to ₹187 in the previous week. Even at these high prices, there were buyers including the State Civil Supplies Corporation that procured a good quantity.

Also read: Coonoor tea auction volume falls again

North Indian demand was down due to seasonal variations, traders said, adding that local buyers and packaters were active in the market.

Upcountry buyers lent improved support, while exporters did not operate in the market, the auctioneers Forbes, Ewart & Figgis said.

Smaller offerings

However, the auction platform continues to witness smaller offerings thanks to lower arrivals from tea gardens on account of the weather conditions. The quantity offered was 5,87,088 and 92 per cent was sold on improved demand.

The market for orthodox dust was also steady to firm with exporters and upcountry buyers extending support. The quantity offered was only 7,500 kg.

Also read: India’s tea exports take a beating

In the leaf category, exporters to CIS countries and other destinations lent support for brokens and whole leaf. The market for Nilgiri whole leaf in orthodox grades was irregular and lower with quality. The quantity offered was 2,51,607 kg. The average price realisation went up to touch ₹169 against ₹162 the previous week.

In CTC leaf, the market for brokens and Fannings remained steady to firm and sometimes dearer with quality. The quantity offered was 95,000 kg with a fair support from blenders and upcountry buyers.

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Published on October 30, 2020
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