Kochi tea auction market has witnessed an improved demand — both for dust and leaf varieties — as local buyers and exporters are active with the easing of Covid restrictions and opening up of the market.
This is evident from the record price of ₹250 per kg fetched by Monica Super Fine Dust in the CTC dust category. The tea is produced by Woodbriar Group of companies and bought by Fortune India Sales Corporation, Kozhikode.
There has been an increase in average price realisation in CTC dust, which was up by ₹3 per kg at ₹138 . The quantity offered was 8,45,311 kg and 80 per cent of the offerings was sold.
The market for good liquoring powdery grades was firm to dearer by ₹2-3 and sometimes more, the auctioneers Forbes, Ewart & Figgis said. Blenders lent useful support, while improved demand was forthcoming from loose tea traders. A fair demand was noticed from upcountry buyers, while exporters covered a nominal quantity.
However, orthodox dust market was lower with primary grades remained steady. The quantity offered was 9,870 kg.
According to auctioneers, the orthodox leaf market was up by ₹3 per kg due to active exporters’ participation to destinations other than CIS countries to meet their financial year ending commitments. The current economic crisis in Sri Lanka has also prompted buyers to source South Indian teas and major buyers from Iran, Iraq, Turkey and Tunisia were active. The offered quantity was 2,32,044 kg and 81 per cent was sold.
The average price realisation was ₹144 compared with ₹141 in the previous week. However, the market for brokens in CTC leaf was lower and witnessed lot of withdrawals. Upcountry buyers covered only a small quantity.