Sluggish demand hit tea prices in Kochi auctions
A subdued demand has hit tea prices both in dust and leaf grades in Kochi auctions, which is witnessing a lot of withdrawals.
The offered quantity in sale 44 was 7,14,187 kg with a sales percentage of 82. Good liquoring teas were lower by ₹1 to ₹2 along with medium and plainer teas, witnessing a lot of withdrawals. All blenders together absorbed 50 per cent of the total CYC quantity sold, the auctioneers Forbes, Ewart & Figgis said.
However, the market saw improved enquiries from Kerala loose tea traders and a fair demand from upcountry buyers.
The demand in orthodox dust market was fair with an offered quantity of 10,500 kg. Primary grades remained steady while the rest was lower and witnessed some withdrawals. Exporters were the main stakeholders.
Despite active participation of exporters to Middle East and CIS countries, orthodox leaf market was lower with whole leaf and brokens barely remained steady. The offered quantity was 2,27,808 kg, witnessing a sales percentage of 81. Some enquiry was noticed from upcountry buyers.
In CTC leaf, good liquoring teas had a fair demand with 63 per cent sales out of the offered quantity of 83,000 kg. The market for good liquoring brokens and Fannings barely remained steady and was lower, while the rest was irregular.