Kochi tea prices dip as export orders slip
Average price realization for orthodox tea at kochi tea auctions decreased by $5 per kg as export orders decreased. In the 22 sale, demand was fair at 71 per cent of sales from the 4,07,891 kg offered.
According to traders, there is a downward trend in overseas buying across regions, including Kolkata and Sri Lanka. The higher arrival of tea due to improved production also contributed to lower prices. Traders said the market is expected to pick up by the end of the month with the arrival of the new crop.
Auctioneers at Forbes, Ewart and Figgis said the Nilgiri whole leaf and fish market was lower by a margin longer than ₹5-10 and saw a lot of withdrawals. However, the drop in price was less for a few of the better ones. Traditional exporters to the CIS and West Asia have been selective and submissive, while exporters to other destinations have been fairly subsidized.
Mixers support
CTC papers also saw a drop in demand as only 52 per cent of the 40,500 kg offered was sold. The market was down and saw a lot of pullbacks. Some export related inquiries are noted at the bottom of the market.
Prices saw a drop in dust types as well as good liquid tea in CTC dust which barely held steady. The quantity supplied increased to 8,14,206 kg, while the quantity sold was only 74 percent. The mixers provided only useful support, while the mixers were somewhat active. There was a fair demand from Kerala loose tea traders and local buyers.
Prices of orthodox dust fell with a small amount absorbed by local buyers and exporters. The quantity offered was 4,000 kg and 100 per cent was sold out.