Increased arrivals have hit tea prices in Kochi this week, even as the auctions witnessed higher quantity offerings in 2020.
The offered quantity in sale 23 was 14,19,145 kg, in which 71 per cent was sold. The CTC dust market was lower by ₹2-5 a kg and sometimes more, witnessing lot of withdrawals. Good liquoring PD grade witnessed strong features, while prices were firm to dearer. The average price realised was down at ₹103 compared to ₹107 in the previous week, the auctioneers Forbes, Ewart & Figgis said.
The Orthodox dust market was lower by ₹1-2 and witnessed lot of withdrawals. A small quantity was absorbed by exporters.
However, widespread demand from exporters especially from CIS countries and other destinations lifted leaf tea prices. The market for select best Nilgiri whole leaf and brokens was firm to dearer. The quantity offered was 2,95,739 kg with a higher average price realisation of ₹134 against ₹127 in the previous week.
In CTC leaf, the market for brokens was higher by longer margins of ₹5-10 and sometimes more. Of the quantity of 64,000 kg, 93 per cent was sold. Fannings was steady to dearer by ₹3-5 a kg and sometimes more. Kerala buyers lent fair support.
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