Commodities

Tea prices fall due to the absence of Supplyco’s involvement

V Sajeev Kumar Kochi | Updated on April 09, 2021

Tea prices declined at Kochi this week following the non-participation of Kerala State Civil Supplies Corporation (Supplyco) from the auctions.

Dust prices were down in the absence of Supplyco’s active involvement in the market, which reacted negatively and was lower by ₹5 to ₹10 and sometimes more to the tune of ₹20 and above, said auctioneers Forbes, Ewart & Figgis.

Supplyco used to procure large quantities of tea from the auctions for distributing the brew under PDS in food kits of essential items being supplied by the State government to the people, traders said.

The subdued demand was reflected in the average price realisation that dropped to ₹155 from ₹164 in the previous week. The quantity offered was 10,54,463.20 kg and only 62 per cent was sold.

The decline in price was more for medium and plainer powdery grades, while the drop in price was less for good liquoring SRD grade. Local and upcountry buyers lent a fair support, while export demand continues to be subdued.

Orthodox dust market barely remained steady, and the quantity offered was only 7,500 kg. Exporters and upcountry buyers absorbed a small quantity.

Leaf prices, especially for select Nilgiri whole leaf in orthodox grades, were firm to dearer, while the rest were irregular and sometimes lower. The quantity offered was 2,17,308 and 73 per cent was sold. The average price realisation remained more or less the same at ₹162.

CTC leaf market for brokens and Fanning was lower by ₹5 to ₹10. The quantity offered was 50,500 kg. Exporters were selective and operated at the bottom of the market, covering a nominal quantity.

Published on April 09, 2021

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

  1. Comments will be moderated by The Hindu Business Line editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.