The orthodox leaf market at Kochi tea auctions witnessed a strong purchase made by Iraqi buyers, registering a higher sales percentage.
The sold percentage in sale 21 was 96 out of the offered quantity of 1,07,623 kg with buyers procuring the entire low quality tea from the auctions. However, the average price realisation was down by ₹5 at ₹162 as the overseas demand was subdued for high-priced teas, traders said.
The auctioneers Forbes, Ewart & Figgis said the market for whole leaf was firm to dearer, while high-priced medium were lower. Traditional exporters to CIS and West Asian countries were active, while the demand was subdued from upcountry exporters.
Kerala State civil supplies re-enters
The sales percentage in CTC leaf was 93 out of the offered quantity of 29,500 kg with brokens becoming dearer. All sections of the trade operated.
However, CTC dust market was strong with good liquoring teas firm. The average price realisation was up by ₹4 at ₹149 compared to ₹145 in the previous week. Kerala State Civil Supplies re-entered the market after a gap of few months. All blenders together absorbed 66 per cent of the offered quantity of 5,66,705 kg, the auctioneers said.
The export demand was subdued and they operated at bottom of the market.
Summer arrivals help
According to traders, the lower offerings in the market — both for CTC and orthodox — are also a contributing factor for the prices to move up. With summer rains lashing across the State, it is expected that tea arrivals to the auction centre may go up in the coming days.
In orthodox dust market, exporters continue to be the main stakeholders out of the offered quantity of 5,500 kg.
