Rising export demand pushed up tea prices at Kochi auctions with increased sales, particularly of orthodox varieties.
In sale 12, the demand was strong with the sales percentage rising to 92 per cent out of the 1,52,887 kg offered. The combined average price realisation was up by ₹3 at ₹192 compared with ₹189 in the previous week, auctioneers Forbes, Ewart& Figgis said.
According to traders, there has been a good export demand for orthodox grades from all parts with a strong buying from Iraq, Russia, and Middle East and CIS countries.
CTC dusts down
CTC leaf witnessed 98 per cent sales out of the 24,000 kg offered quantity of 24,000 kg with brokens and Fannings firming to dearer. Upcountry and Kerala buyers were active in the sale.
However, CTC dust market was down despite a higher sales of 94 per cent out of the 7,48,771 kg offered. The market was lower by ₹1-2 with blenders together absorbing 66 per cent of the total CTC quantity sold. Export demand was subdued. Traders cited liquidity crisis as the reason for a subdued sales as loose tea traders were not active.
Orthodox market was firm to dearer, while secondary grades withdrawn due to lack of bid. The sales percentage was only 49 out of the offered quantity of 20,000 kg.
