Export demand continues to push up orthodox leaf prices in Kochi tea auctions with secondary brokens from all regions appreciated with longer margins of ₹5 to ₹10.
According to traders, demand was noticed from buyers in Iraq, Tunisia, West Asia and CIS countries in sale 18 and exporters are busy with fulfilling their commitments made in the last fiscal.
According to auctioneers Forbes, Ewart & Figgis, 94 per cent of the offered quantity of 2,50,607 kg had been sold and the market for select best Nilgiri whole leaf was firm to dearer. The average price realisation was up by ₹1 at ₹167 compared to ₹166 in the previous week.
Also read: Manappuram Finance says enforcement action against promoter, not company
The demand was good for CTC leaf with 83 per cent of the offered quantity of 21,000 kg sold. The market for brokens barely remained steady and was lower. Kerala and upcountry buyers absorbed a small quantity sold.
In CTC dust, the market for good liquoring teas was steady to firm and sometimes dearer with an active participation of blenders. According to traders, a favourable climate in the growing regions with good rains has improved tea arrivals to the auction with offered quantities stood at 7,40,000 kg. However, the sales percentage was only 84 per cent with Kerala Loose Tea Traders and upcountry buyers lending fair support.
The offered quantity in orthodox dust was only 1,500 kg and the sales percentage was 100 per cent. Upcountry buyers and exporters absorbed a very small quantity.