Improved buying by exporters to CIS countries has lifted orthodox leaf tea prices at Kochi auctions.
The market for Nilgiri whole leaf and brokens has appreciated by a longer margin of ₹5 to ₹10 and sometimes more. The quantity offered in sale 14 was 1,80,907 kg and 62 per cent of the quantity was sold. The average price realisation has also gone up at ₹132.77 per kg from last week level of ₹127.56. Other exporters and upcountry buyers also lent fair support. There were also lot of withdrawals especially browner varieties due to low bid or lack of bid, the auctioneers Forbes, Ewart & Figgis said.
The CTC leaf auctions witnessed a good demand with 76 per cent of the offered quantity of 36,946 kg getting sold. The market was higher by ₹10 and sometimes more especially medium and plainer teas. Blenders and upcountry buyers were very active, while there was a subdued demand from exporters who covered a negligible quantity.