Subdued demand increases unsold tea quantity at Kochi auctions

V Sajeev Kumar Kochi | Updated on March 23, 2020

Sales drop 25-30%

The percentage of unsold quantities of tea has gone up at Kochi auctions following a decline in exports and upcountry buying amid the coronavirus outbreak.

The sales drop was 25-30 per cent, both in dust and leaf varieties, and traders expect the arrivals at auctions to come down in the coming days as well due to border restrictions on transport.

According to auctioneers Forbes, Ewart & Figgis, of the 8,96,698 kg offered, the unsold quantity of CTC dust was 33 per cent in sale no 12. The average price realisation was also down compared to last week, at ₹112.64 per kg. The market for a few select best liquoring teas was firm to dearer, while the rest fell by ₹2-5 a kg, sometimes more. Blenders lent fair support while exporters operated at the bottom of the market and covered only a small quantity.

Orthodox tea

The market for orthodox dust was lower and the quantity offered was 9,500 kg.

In Cochin CTC dust quotation, good varieties fetched ₹100-148, mediums quoted ₹76-122, while plain grades stood at ₹67-76.

The total unsold quantity in leaf varieties was 44 per cent of the total 2,00,539 kg. However, the price realisation was on the higher side, at ₹121, compared to ₹114 last week, thanks to high-priced tea sales.

The market for Nilgiri whole leaf was dearer by ₹5-10, sometimes more. Good liquoring and well-made teas witnessed improved enquiries from exporters.

In CTC leaf, the quantity on offer was 46,500 kg. High-priced brokens were lower by ₹5-10. Exporters’ demand was subdued, while upcountry buying was selective.

Monica SFD quoted the best prices of ₹149 in dust varieties, while Chamraj FOP came to the top in the leaf grades, quoting ₹266.

Published on March 23, 2020

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