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Prices firm up at Kochi auctions on low arrivals following rains, crop loss

V. Sajeev Kumar Kochi | Updated on August 31, 2018 Published on August 31, 2018

Heavy rains and crop loss in the planting districts has led to a shortfall in tea arrivals at the Kochi auctions. This has led to strong demand, lifting the prices of both dust and leaf grades to a new high.

The average price increase in the dust category was Rs 10, while the leaf grades registered a Rs 12-13 hike in sale no 35. The prices of dust grades have gone up to Rs 134/kg from Rs123, while the prices of the leaf grades touched Rs 148.78 from Rs 134.30, the auctioneers Forbes, Ewart & Figgis said.

Sale no 34 was not scheduled in view of the Onam holidays. However, the auctions this week witnessed very low arrivals in total offerings at 7,44,500 kg in CTC dust due to the rains. The market opened Rs 10 to Rs 15 higher. As the sale progressed, prices appreciated further for good liquoring teas. Leading blenders were active on good liquoring, while there was subdued demand from upcountry buyers and exporters.

Arrivals in orthodox dust was 10,000 kg and the market sold around last levels. In the Cochin CTC dust quotation, good varieties fetched Rs 126-189, mediums quoted Rs 94-154 and plain grades stood at Rs 87-115.

Leaf sales also witnessed strong demand and the market for Nilgiri brokens, whole leaf and Fannings in orthodox grades was higher with longer margins of Rs 10-15 and sometimes more. Exporters were active in all varieties. The quantity on offer was 1,32,500 kg.

In CTC leaf, all the varieties were dearer by Rs 5-7 and sometimes more. The quantity on offer was 19,000 kg. Monica SFD quoted the best prices at Rs 189 in dust varieties, while Chamraj FOP-Sup (Green Tea) came to the top in leaf quoting Rs 346.

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Published on August 31, 2018
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