Kochi tea auction market continues to witness price correction following improved offerings in the forthcoming sales. This was reflected in the average price realisation in CTC dust grades, which was lower at ₹173 per kg compared to ₹177 in the previous week.
In sale 51, the market for good liquoring teas was lower by ₹5 to ₹10. Medium and plainer teas was also lower by ₹10-₹15 and sometimes more following quality, the auctioneers Forbes, Ewart & Figgis said. The quantity offered was 9,55842.35 kg and of this, 87 per cent was sold.
Also read: Good arrivals hit tea prices in Kochi auctions
According to traders, there was a strong demand for good quality teas from blenders and loose market. Supplyco was less active in the market and covered only a small quantity compared to last week. Upcountry demand was subdued, while exporters confined to bottom of the market.
Orthodox dust market was also lower by ₹5 to ₹10 and the quantity offered was 13,500 kg. Exporters were the mainstay.
In leaf category, the market for good Nilgiri whole leaf, brokens and Fannings in orthodox grades was steady to firm and sometimes dearer. The quantity offered was 2,14,993 kg and 96 per cent was sold.
Also read: Improved offerings lead to price correction in Kochi tea auctions
The average price realisation was up at ₹169 compared to ₹158 in the previous week due to demand for winter quality teas.
In CTC leaf, the market for best brokens was firm to dearer and the quantity offered was 57,500 kg. However, only 59 per cent was sold. Medium and plainer brokens was lower by ₹5 to ₹7 and sometimes more.
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