Active participation of blenders coupled with low arrivals due to inclement weather has lifted CTC dust prices at Kochi tea auctions.
Blenders together absorbed 60 per cent of the offered quantity of 6,92,688 kg in sale 31 which witnessed a strong demand, the auctioneers Forbes, Ewart & Figgis said. The market reacted sharply following a decline in future offerings and the prices for good liquoring teas appreciated by ₹2 to ₹3.
According to traders, continuing rains in the high ranges has hit tea arrivals to the auction platform and the prices are likely to move up further in the coming weeks. The average price realization was up by ₹2 at 1₹42 compared to ₹140 in the previous week.
Lower North India crop
Orthodox dust price was lower despite witnessing 100 per cent sales out of the offered quantity of 5,500 kg.
Leaf prices also moved up with whole leaf and brokens in orthodox grades turning dearer with a longer margin of ₹5 to ₹20 and sometimes more following quality. The quantity offered was 2,29,081 kg, witnessing 82 per cent of sales. A lower crop in North India has forced buyers to scout for tea from Kochi to fulfil export commitments, traders said.
In CTC leaf, good liquoring brokens and Fannings was dearer and witnessed an active buying support from upcountry buyers. The quantity offered was 52,000 kg.