Tea prices – both dust and leaf varieties — declined at Kochi auctions following a seasonal correction in line with quality and improved quantity offered at North Indian auction centres.

The reduced offtake has also seen from certain sections of the trade. The impact of this has reflected in Kochi auction prices in sale 39. However, the auction prices here are still much higher in comparison to levels from previous years, the auctioneers Forbes, Ewart & Figgis said.

Also read: Tea prices continue to move up in Kochi auctions

The quantity offered in dust grades was 5,54,505 kg with 88 per cent was sold. The market was lower by ₹5 to ₹15 and the decline in prices was more for the plainer and browner teas. It also witnessed some withdrawals. The average price realisation was also down at ₹191 compared to ₹199 in the previous week.

In orthodox dust, the market was lower by ₹10 and more. The quantity offered was 14,025 kg and only 43 per cent was sold. Exporters and upcountry buyers have absorbed a small quantity.

Leaf prices fall

The leaf prices also declined with the market for Nilgiri brokens and whole leaf in orthodox varieties was lower by ₹5 to ₹10. Exporters to CIS countries and other destinations lent only a fair support. The quantity offered was 3,44,949 kg with 80 per cent was sold. The average price realised was down at ₹191 against ₹193.75 in the previous week.

Also read: India’s H1 tea shipments take a beating

The demand for CTC leaf was fair with 71 per cent of the offered quantity of 1,11,000 kg was sold. The market for good brokens and Fannings was easier by ₹5 to ₹7, while the rest were lower by ₹5 to ₹10. It also witnessed lot of withdrawals. Kerala and upcountry buyers lent fair support.

Related Topics