Subdued demand from Kerala and upcountry buyers has hit tea prices, especially dust grades, at Kochi auctions this week. The leaf category too, witnessed a similar declining price trend.
The CTC dust market in Sale 7 was lower by ₹3 to ₹5 and sometimes more, following quality. The quantity offered was 9,94,915 kg, of which only 86 per cent was sold. The decline was less for low medium and plainer powdery grades. Exporters were selective and operated at the bottom of the market, auctioneers Forbes, Ewart & Figgis said.
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The declining demand resulted in lower price realisation at ₹166 compared to ₹169 in the previous week.
In orthodox dust, the market for primary grades was steady, while powdery grades were lower and witnessed some withdrawal. The quantity offered was 12,500 kg.
Leaf prices were also down in the auctions, particularly in the absence of participation from major packaters. In orthodox leaf, the market for Nilgiri whole leaf, brokens and Fannings was lower by a longer margin of ₹5 to ₹10 and sometimes more. The quantity offered was 1,93,535 kg. Exporters to CIS countries and other destinations lent only fair support. The average price realised was also down at ₹162 compared to ₹165 in the previous week.
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In CTC leaf, the market for brokens and Fannings was lower by ₹2 to ₹3 and witnessed some withdrawals. The quantity offered was 58,500 kg.