Commodities

Strong demand lifts tea prices at Kochi auctions

V. Sajeev Kumar Kochi | Updated on November 13, 2020

A strong demand both from packaters and blenders lifted tea prices especially dust varieties at Kochi auctions this week.

Buyers such as AVT, Kerala State Civil Supplies Corporation and packaters together absorbed 60 per cent of the total quantity of 6,16,582 kg offered in sale 46. The market was strong with good liquoring high-priced teas was firm to dearer by ₹2 to ₹4 and sometimes more as the sale progressed. According to traders, 97 per cent of the offered quantity was sold. Kerala buyers continue to operate hand to mouth, while upcountry buyers lent only fair support. The average price realization remained at the last week level of ₹198 per kg, the auctioneers Forbes, Ewart & Figgis said.

Orthodox dust market was firm to dearer by ₹2 to ₹3, and the entire offered quantity of 18,500 kg was sold in the auction. Upcountry buyers and exporters were active and absorbed a small quantity.

The leaf market witnessed a declining trend with the demand for Nilgiri broken, whole leaf and Fannings in orthodox leaf was firm to dearer. The quantity offered was 2,22,023 kg, and exporters to CIS countries and other destination lent adequate support. The average price realization was slightly up at ₹173.43 per kg against ₹172.10 in the previous week.

The CTC leaf market was down with brokens and Fannings reporting lower by ₹3 to ₹5. The quantity offered was 61,000 kg, with 79 per cent was sold. The demand from upcountry and Kerala buyers was subdued.

Published on November 13, 2020

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