Onam festivities seem to have brought some cheer to Kochi tea auction market, especially for CTC grades, thanks to active participation of blenders and loose tea traders.
This is evident from the absorption of 62 per cent of the 8,97,953 kg offered quantities by blenders in sale 32. The market opened on a steady note and prices appreciated by ₹2-3 a kg as the sale progressed. Kerala loose tea traders and upcountry buyers were also active. Exporters operated at the bottom of the market and covered nominal quantity.
Orthodox dust market was lower and witnessed some withdrawals. The quantity offered was 9,000 kg and exporters continued to be the major stakeholder.
However, orthodox leaf market was down with only a 48 per cent sales percentage as exporters stayed away from the market. The demand was good for whole leaf, while it was less for brokens. Exporters to CIS countries and West Asia were selective and subdued, while upcountry buyers lent some support. Major traditional exporters did not operate. The average price realisation was down by ₹2 at ₹128 a kg.
The sales percentage in CTC leaf was 87 with brokens and Fannings were dearer following quality. The quantity offered was 28,500 kg and there was some export enquiry at the bottom of the market.