Easing West Asia tensions bring back overseas tea buyers to Kochi 

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The easing of tensions in West Asia is reportedly facilitating overseas tea buying from Kochi auctions, which is evident from the increase in sales percentage.

According to traders, there has been a widespread demand from CIS and Middle East buyers as well as from Iran blenders who are looking at South Indian auctions especially for grades such as whole leaf and bolder brokens. Russian buyers were also active, showing some improvement in buying.

Of the offered quantity of 2,44,652 kg, the sold percentage was 89 in sale 43. The auctioneers Forbes, Ewart & Figgis said that the average price realisation was up ₹1 at ₹186.

CTC likely to dip

In CTC leaf, there was a good demand for liquoring teas and the quantity offered was 84,500 kg. There was a fair enquiry from local and upcountry buyers.

Despite higher sales percentage, CTC dust market, however, was down with good liquoring teas lower by ₹2-3 a kg. The offered quantity was 7,33,791 kg with a sales percentage of 89. All blenders together absorbed 61 per cent of the total CTC quantity sold. The average price realisation was down by ₹2 compared to ₹163 in the previous week.

According to traders, the CTC market was expected to decline this month before moving up sometime in November.

Orthodox dust market was also lower with prices for primary grades firm to dearer while secondaries were lower. There were also some withdrawals out of the offered quantity of 7,500 kg.