Prevailing dry weather continue to affect tea arrivals at Kochi Tea auction. However, CTC dust witnessed a good demand with 90 per cent put on offer getting sold.
In sale no 8, the quantity on offer was 9,66,000 kg, which was low compared to last week. The teas which came under the selection of AVT were firm to dearer following quality. Others were irregular and lower. However, the bottom of the market moved up in value.
In the Orthodox grades, the quantity on offer was 11,500 kg. The market for primary grades remained steady. Exporters and upcountry buyers shared the quantity sold.
In Cochin CTC dust quotation, good varieties quoted ₹90-154, mediums fetched ₹75-114, while plain grades stood at ₹65-78.
The leaf sale also registered a major drop in arrivals with Orthodox grades quoting 40,000 kg for offer. With a good demand, the market for Select Best Nilgiri Brokens, Whole Leaf was firm to dearer. Fannings appreciated in value and absorbed by exporters and upcountry buyers.
In CTC leaf, the quantity on offer was also low at 100,000 kg. The market for Bolder Brokens and Fannings was firm to dearer. Smaller Brokens was irregular and lower, witnessing some withdrawals.
In dust grades, Injipara (Prm) SFD quoted the best prices of ₹157 followed by Monica SFD at ₹152. In leaf category, both Chamraj FOP and Chamraj OP fetched the best prices of ₹351 each followed by P’s Woodlands Hyson Green Tea at ₹325.
Meanwhile, the tea industry welcomed the Centre’s move in making mandatory for tea manufacturers to sell 70 per cent of their produce through auctions.
The plans to amend the Tea Marketing Control Order 2003 to sell the produce through Tea Board initiated e-auction system will give an impetus to the ailing tea industry. Besides ensuring large participation in auctions, the revised order is expected to bring more quantities, trade transparency and maintain better price realisation in tea auctions, Dharmendra D Vora, President, Tea Buyers Association, Kochi said.