Tea prices up at Kochi auctions on increased buying, low arrivals

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Rising procurement from upcountry buyers and lower arrivals pushed up dust and leaf tea prices at Kochi auctions this week.

Traders said a drop in crop production in North India due to the start of winter led to traders scout for tea from the South. Export demand also forced them to purchase tea from here. However, adverse weather conditions in high ranges have hit the quality of tea arriving at the auction platform.

The average price realisation was up by ₹1 at ₹167.

The auctioneers Forbes, Ewart & Figgis said there was a strong demand for CTC dust, witnessing a 91 per cent sales out of the offered quantities of 6,44,123 kg. The market for good liquoring teas was steady to firm and dearer. All blenders together absorbed 62 per cent of the total CTC quantity sold. However, high-priced popular marks of Kerala powdery grades showed a decline. There was a fair support from upcountry buyers and loose tea traders.

Demand for CTC leaf less

In orthodox dust, primary grades remained steady, while others were lower and noticed some withdrawal. The quantity offered was 7,000 kg with a sales percentage of 77.

In orthodox leaf, the demand was strong with a sales pecentage of 87 out of the offered quantity of 1,91,946 kg. The market for whole leaf and brokens was dearer, while the rest was lower and irregular. Exporters to Middle East and CIS continue to be active.

There was less demand for CTC leaf with market for brokens and fannings remained lower, witnessing heavy withdrawal. All sections of the trade was subdued.