Kochi tea prices gain on lower offerings
A drop in production in plantations continues to affect tea arrivals at Kochi auctions, resulting in prices moving up both for dust grades and orthodox leaf.
According to growers, there has been a 30 per cent drop in production across plantations during October and November. Crops have been badly affected this year due to excessive rains and lower sunshine. The closure of North Indian plantations due to winter holidays also led to increased procurement of tea from the South, resulting in the prices to surge.
In sale 48, the demand was strong witnessing a sales percentage of 95 out of the offered quantities of over 7 lakh kg. Auctioneers Forbes, Ewart & Figgis said that good liquoring teas appreciated by ₹3-4 a kg and more as the sale progressed. All blenders together absorbed 58 per cent of the total CTC quantity sold. The average price realisation was up by ₹2 at ₹166 compared to the previous week.
Subdued demand
Orthodox dust market was lower with a sales percentage of 64 out of the offered quantity of 7,000 kg. Prices were irregular and lower and mainly operated by exporters and upcountry buyers
The demand was strong in orthodox leaf, witnessing a 91 per cent sales out of the offered quantity of 2,81,518 kg. There was active participation from CIS and Middle East buyers, while upcountry buyers lent useful support. The average price realisation was up by ₹6 at ₹178 and whole leaf witnessing high feature with prices ruling higher. Medium brokens was firm to dearer offered quantity of 78,500 kg. There was a subdued demand from all sections of the trade.
The demand for orthodox dust was lower with a sales percentage of 66 out of the offered quantity of 78,500 kg.
