Active participation of blenders in the wake of rising tea sales in the retail market has lifted prices at Kochi auctions this week.
The market for powdery varieties and RD grade witnessed a strong feature and appreciated by ₹5 to ₹10 in sale 43. This was reflected in average price realisation, which went up to ₹188 per kg compared to ₹183 in the previous week. Local and demand from packaters was also a contributing factor for the surge in prices, traders said.
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However, the offered quantity was lower at 5,07,130 kg as tea arrivals from high ranges has declined due to climatic conditions. There was a subdued demand from upcountry buyers, as procurement by North Indian buyers was low due to drop in tea prices there. Exporters are not active in the market, the auctioneers Forbes, Ewart & Figgis said.
The market for orthodox dust was dearer by ₹5 to ₹10 with active participation of exporters. The quantity offered was 16,500 kg.
Active participation of exporters to CIS countries and other destinations also picked up leaf tea prices, especially orthodox varieties. The market for Nilgiri brokens and whole leaf was firm to dearer following quality. The offered quantity was 2,40,335 kg.
In CTC leaf, the market for good liquoring teas was steady to firm and sometimes dearer. The quantity offered was 77,500 kg and upcountry and Kerala buyers lent fair support.