Lower arrivals and a better demand pushed up tea prices, especially good liquoring varieties at Kochi auctions this week.
Unsold quantities in CTC dust grades has come down, thanks to improved buying from Kerala loose tea traders and upcountry buyers. There was a fair demand for medium teas, while it was sluggish for plainer teas in sale 28. As the sale progressed, the select best liquoring teas and popular marks were appreciated in value. The quantity offered was 9,82,595 kg and the average price realisation remained at the same level of ₹117 per kg.
The auctioneers Forbes, Ewart & Figgis said that exporters demand was subdued and they covered only a nominal quantity.
For orthodox teas, the market was lower and witnessed a lot of withdrawals. The quantity offered was 23,000 kg and a small volume was absorbed by exporters.
In orthodox leaf, the market for select best Nilgiri brokens and the whole leaf was steady to firm and sometimes dearer. The quantity offered was 3,56,061 kg and 75 per cent of the offered quantity was sold. The average price realisation was down at ₹150 compared to ₹158 per kg. The rest was irregular and lower following quality.
In CTC leaf, the market for good liquoring brokens and Fannings was steady to firm and occasionally dearer. The quantity offered was 70,500 kg and only 51 per cent was sold. Upcountry buyers lent fair support, while there was a subdued demand from exporters and Kerala buyers.