Reports of frost impact, crop loss in Nilgiris coupled with the absence of last week sales due to Christmas has triggered tea prices to higher levels in Kochi auctions.
The market was strong in Sale 53, witnessing a 99 per cent sales out of the offered quantities of 6,43,763 kg in CTC dust registering a ₹7 per kg rise in average price realisation at ₹174 compared to ₹167 in the previous week.
The auctioneers Forbes, Ewart& Figgis said the market for good liquoring teas was firm to dearer by ₹2 to ₹5 and more as the sale progressed, while medium varieties witnessed strong features and were higher by ₹5 to ₹7. Grainer types of plainer teas was steady to firm, while powdery grades also gained. All blenders together absorbed 63 per cent of the total CTC quantity sold.
Orthodox dust market was fair with primary grades remaining steady to dearer and the rest was lower, witnessing a lot of withdrawal. The quantity offered was 8,000 kg and upcountry buyers absorbed a small quantity.
The Cochin CTC Dust auction (Sale No. 53), the final sale of the year, closed on a firm to dearer note, supported by a production shortfall caused by low temperatures and winter frost in high-altitude regions such as Munnar, alongside strong seasonal demand from the festive period, the Sabarimala pilgrimage, and the Christmas holidays.
Anil George, Chairman of Tea Trade Association of Cochin said that popular and good liquoring CTC dusts gained ₹4–6 per kg, with select lots fetching higher premiums. Medium and plainer grades followed the upward trend, appreciating by ₹8–10 per kg, thanks to blenders demand. Local bazaar enquiry improved, though export demand for plainer teas remained limited.
The orthodox leaf auction saw only a selective demand with little best, well-made whole leaf and broken grades sold irregularly around last levels; sales percentage was around 70 per cent.
Source - https://www.thehindubusinessline.com
