Increased offering and subdued government buying have pulled down dust tea prices at Kochi auctions. The market witnessed a correction following an increase in arrivals in Sale 16 as well as future sales.
This was reflected in the rates and the average price realisation was lower at ₹121 per kg from ₹130 in the previous week. The quantity offered was 10,55,167 kg, auctioneers Forbes, Ewart & Figgis said. The market was lower by ₹5-10 and the decline was to the tune of ₹15 for high-priced teas. There was subdued demand from Kerala State Civil Supplies Corporation and loose tea traders.
In orthodox dust, the market was lower by ₹5-9 and witnessed a lot of withdrawals. The quantity on offer was 12,860 a kg.