Tea prices gather steam at Kochi sale
Kochi, September 29:
Better liquoring tea varieties fetched higher prices at Kochi auctions last week. However, prices were irregular and lower for teas which had inferior liquoring properties.
At sale no 39, the quantity on offer in CTC dust varieties was 9,45,500 kg, higher compared with last week. With a better demand, the market was firm to dearer by Rs. 2-3 a kg.
According to the auctioneers Forbes, Ewart & Figgis, a better demand was noticed from upcountry buyers, while exporters confined to medium and plainer varieties. The quantity on offer in dust varieties was also up at 19,000 kg against last week arrival. But the market was lower with many withdrawals. A small quantity of Orthodox dust sold was absorbed by exporters.
In the best Cochin CTC dusts, good varieties fetched Rs. 110-157, medium grades quoted Rs. 75-106 and plain stood at Rs. 60-71.
In the leaf category, the quantity on offer in Orthodox grades was 124,000 kg. With improved demand, the market for Nilgiri Brokens and Whole Leaf appreciated with longer margins of Rs. 5-10. Others were irregular and sold around last levels. Exporters to CIS countries were active along with traditional exporters. There was a better demand from upcountry buyers on Whole Leaf.
In CTC leaf, the quantity on offer was 81,500 kg with a good demand for better liquoring. However the demand was les for other varieties. The market for better liquoring varieties was firm to dearer while others were irregular and lower witnessing some withdrawals. There was a subdued demand from exporters.
In the dust category, Monica SFD quoted the best prices of Rs. 157. In the leaf grades, Chamraj Green Tea (FOP) Sup fetched the best prices of Rs. 322/kg.