Selective and subdued export buying hit orthodox tea prices in Kochi auctions, with a sales percentage of 46 out of the offered quantities of 3,73,500 kg.
The average price realisation was down by ₹4 at ₹126 compared to ₹130 in the previous week. Traders pointed out that there were heavy withdrawals in almost all categories in the absence of strong export orders. Exporters to CIS and West Asia were selective, while there was some buying from African nations and Iraq that too small quantity.
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Traders said tea quality was affected because of rush arrivals. Besides, dropping prices in North India facilitated upcountry buyers to procure tea from there rather than sourcing it from South Indian auctions.
The auctioneers Forbes, Ewart & Figgis said the demand for whole leaves both fair and broken was less, witnessing heavy withdrawals. Secondary brokens from all segments witnessed weak features with prices ruling lower and sometimes selling difficulties.
In CTC leaf, good liquoring brokens were firm to dearer and the rest tended to ease.
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Though the dust market ruled steady, the upcoming Onam demand has not made any impact in the auctions this week with blenders confined only to regular buying. The market for good liquoring in CTC was steady to firm while the remainder was lower, witnessing heavy withdrawals.
The sold percentage was 75 out of the offered quantities of 9,32,957 kg in CTC. Blenders together absorbed 62 per cent of the total quantity sold. Exporters operated at the bottom of the market and covered nominal quantities. The heavy rains last week in high ranges hit loose tea traders’ demand.
The quantity offered in orthodox dust was 10,000 kg, witnessing a lower and irregular market. Exporters absorbed a small quantity.
Web Title – Orthodox tea prices in Kochi drop on selective, subdued export buying