Commodities

Tea prices lose steam in Kochi sale on higher arrivals

V Sajeev Kuma Kochi | Updated on June 04, 2020 Published on June 04, 2020

Increased arrivals have hit tea prices in Kochi this week, even as the auctions witnessed higher quantity offerings in 2020.

The offered quantity in sale 23 was 14,19,145 kg, in which 71 per cent was sold. The CTC dust market was lower by ₹2-5 a kg and sometimes more, witnessing lot of withdrawals. Good liquoring PD grade witnessed strong features, while prices were firm to dearer. The average price realised was down at ₹103 compared to ₹107 in the previous week, the auctioneers Forbes, Ewart & Figgis said.

The Orthodox dust market was lower by ₹1-2 and witnessed lot of withdrawals. A small quantity was absorbed by exporters.

However, widespread demand from exporters especially from CIS countries and other destinations lifted leaf tea prices. The market for select best Nilgiri whole leaf and brokens was firm to dearer. The quantity offered was 2,95,739 kg with a higher average price realisation of ₹134 against ₹127 in the previous week.

In CTC leaf, the market for brokens was higher by longer margins of ₹5-10 and sometimes more. Of the quantity of 64,000 kg, 93 per cent was sold. Fannings was steady to dearer by ₹3-5 a kg and sometimes more. Kerala buyers lent fair support.

Published on June 04, 2020

A letter from the Editor

Dear Readers,

The coronavirus crisis has changed the world completely in the last few months. All of us have been locked into our homes, economic activity has come to a near standstill. Everyone has been impacted.

Including your favourite business and financial newspaper. Our printing and distribution chains have been severely disrupted across the country, leaving readers without access to newspapers. Newspaper delivery agents have also been unable to service their customers because of multiple restrictions.

In these difficult times, we, at BusinessLine have been working continuously every day so that you are informed about all the developments – whether on the pandemic, on policy responses, or the impact on the world of business and finance. Our team has been working round the clock to keep track of developments so that you – the reader – gets accurate information and actionable insights so that you can protect your jobs, businesses, finances and investments.

We are trying our best to ensure the newspaper reaches your hands every day. We have also ensured that even if your paper is not delivered, you can access BusinessLine in the e-paper format – just as it appears in print. Our website and apps too, are updated every minute, so that you can access the information you want anywhere, anytime.

But all this comes at a heavy cost. As you are aware, the lockdowns have wiped out almost all our entire revenue stream. Sustaining our quality journalism has become extremely challenging. That we have managed so far is thanks to your support. I thank all our subscribers – print and digital – for your support.

I appeal to all or readers to help us navigate these challenging times and help sustain one of the truly independent and credible voices in the world of Indian journalism. Doing so is easy. You can help us enormously simply by subscribing to our digital or e-paper editions. We offer several affordable subscription plans for our website, which includes Portfolio, our investment advisory section that offers rich investment advice from our highly qualified, in-house Research Bureau, the only such team in the Indian newspaper industry.

A little help from you can make a huge difference to the cause of quality journalism!

Support Quality Journalism
India monitoring oil market developments and responses: Pradhan