Export demand lifted orthodox leaf tea prices at Kochi auctions this week with an average increase of ₹6 per kg.
The demand was strong for sale 36, with a sales percentage of 100 out of the offered quantity of 1,42,143 kg. Auctioneers Forbes, Ewart& Figgis said whole leaf and brokens witnessed strong demand and prices were higher by ₹5-10 and sometimes more depending on quality.
Traditional exporters to CIS and Middle East countries were active, while upcountry exporters lent useful support. CTC leaf also witnessed a strong demand with a sales percentage of 84 out of the offered quantity of 36,500 kg.
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Quality too hit
Traders pointed out that the shortage of tea due to crop loss in the wake of inclement weather was the reason for the prices to move up. The rains have also affected the quality of teas and the prices are expected to decline once the quality brew arrives in the auction platform. The CTC dust market also registered a strong demand with the active participation of blenders who absorbed 69 per cent of the 4,99,137 kg offered at the auction. However, high-priced teas barely ruled steady and were lower. There was active participation from upcountry buyers.
The orthodox dust market was higher by ₹3-5 and sometimes more with exporters, the main stakeholders in the trade, being active.