Tea prices – both dust and leaf varieties -- continue to surge in Kochi auctions, thanks to a strong demand from blenders coupled with lower offerings in the auction platform.
The demand was strong in sale 35, witnessing a 98 per cent sales out of the offered quantity of 5,36,080 kg in CTC dust. The auctioneers Forbes, Ewart & Figgis said that all blenders together absorbed 60 per cent of the total CYC quantity sold.
The market for good liquoring teas was firm to dearer by ₹3 to ₹6 and sometimes more. Few popular marks of Kerala have appreciated by longer margins of ₹10 and more. The average price realization was up by ₹7 at ₹163 compared to ₹157 in the previous week.
Orthodox dust market was also dearer by ₹3 to ₹5 out of the 4500 kg offered. Exporters and upcountry buyers absorbed a small quantity sold.
According to traders, inclement weather with heavy rains in production centres continues to hit tea arrivals to the auction platform.
The leaf market was also strong with whole leaf and brokens in orthodox grades appreciated more as the sale progressed. Exporters to CIS and Middle East countries were active, while some upcountry interest also noticed.
The quantity offered was lower at 32,095 kg with a sales percentage of 94. The average price realization was up by ₹11 at ₹178 compared to ₹167 in the previous week.
In CTC leaf, the prices of brokens and Fannings were firm to dearer by ₹3 to ₹5 and sometimes more. The sold percentage was 100 out of the offered quantity of 32,000 kg.