Local buying ahead of Diwali in North India, coupled with blenders’ support, lifted CTC dust prices in the Kochi auctions this week.
Dearer by Rs 2 to Rs 4 in sale 44, the market appreciated further as the sale progressed. Amid strong demand, 95 per cent of the offered quantity of 6,35,212 kg was sold, with a Rs 5 increase in average price realisation.
According to traders, lower arrivals from the production centres also boosted the market. Exporters covered a nominal quantity.
The Orthodox dust market was firm, with upcountry buyers absorbing a small quantity of the 4,500 kg on offer.
Meanwhile, with improved enquiries from the CIS and West Asian countries, and participation from more exporters, 65 per cent of the offered quantity of 1,57,595 kg of orthodox tea grades was sold. There was some upcountry demand on cheaper rates in Kochi compared to Kolkata, where prices are ruling higher.
There was good demand for CTC leaf, with 99 per cent of the offered quantity of 35,500 kg sold. Packateers, upcountry and internal buyers, absorbed a small quantity of the CTC sold.