Tea prices in Kochi auctions continue to witness a declining trend, with fresh arrivals hitting demand. However, the drop in good liquoring varieties was less compared to other grades in sale number 50.
The declining trend was reflected in the average price realisation that dropped to ₹177 per kg vis-à-vis ₹189 in the previous week. The quantity offered in CTC dust at 9,60,939.60 kg was mostly absorbed by blenders and packeters.
The market for good liquoring teas was lower by ₹5 to ₹10, and sometimes more as the sale progressed, while the remainder was irregular with a drop of ₹10 to ₹15. There was improved demand from loose tea traders and upcountry buyers, while export demand was confined to the bottom of the market. Exporters covered only a very small quantity, the auctioneers Forbes, Ewart & Figgis, said.
In orthodox dust, the quantity offered was 13,500 kg and the market was lower, witnessing some withdrawals.
The leaf market was also lower with Nilgiri brokens and whole leaf in orthodox grades tending to ease. The quantity offered was 2,22,141 kg, with 94 per cent being sold. Exporters to CIS countries and the Middle East lent fair support. However, their participation was higher compared to last week.
In CTC leaf, the market for brokens and Fannings was lower by ₹5 to ₹10, but as the sale progressed the drop plateaued. The demand from upcountry and Kerala buyers was subdued.