Tea prices gain ground on demand, Kochi sales arrivals drop
Lower arrivals and better demand have pushed up tea prices, especially the good liqueur varieties at Kochi auction this week.
The unsold quantities in the CTC dust categories decreased, thanks to improved purchases from Kerala loose tea traders and buyers in the interior of the country. The demand for medium teas was good, while it was low for the simpler teas on sale 28. As sales grew, the best selected liqueur teas and popular brands were appreciated in value. The quantity supplied was 9 82 595 kg and the average realized price remained at the same level of 117 17 per kg.
Auctioneers Forbes, Ewart & Figgis said demand from exporters was moderate and they were only covering nominal quantity.
For Orthodox teas, the market was lower and experienced many withdrawals. The quantity supplied was 23,000 kg and a small volume was absorbed by the exporters.
In the Orthodox leaf, the market for selecting the best Nilgiri chips and the whole leaf was stable to firm and sometimes more expensive. The quantity offered was 356,061 kg and 75% of the quantity offered was sold. The average realized price was down to ₹ 150 from 158 per kg. The rest was spotty and of inferior quality.
In the CTC Leaf, the market for Liquor Chips and Fannings was stable at firm and at times more expensive. The quantity offered was 70,500 kg and only 51 percent was sold. Inland buyers provided fair support, while demand from exporters and buyers in Kerala was low.