Active participation of exporters especially to CIS countries and West Asia has lifted leaf tea prices at Kochi auctions this week.
The market for orthodox leaf in Nilgiri whole leaf was higher by a longer margin of ₹5 to ₹10 and sometimes more, following quality. This is evident in the higher price tag received for Sutton GSOP at ₹333 in Nilgiri whole leaf in sale 12. The offered quantity was 2,27,781 kg, which realized an average price of ₹162.71 per kg.
According to traders, the market was strong and firm in Kochi because of the ensuing holidays next week on account of Good Friday and Easter.
The CTC leaf market also remained steady to firm for brokens and Fannings and sometimes dearer, following quality. The quantity offered was 58,000 kg. An improved export demand noticed at the bottom of the market.
Despite improved arrivals at 10,64,616 kg, the dust market was lower by ₹2 to ₹5 due to a subdued buying by blenders. However, PD grade witnessed strong features and appreciated in value. Major packaters lent only fair support.
Traders expect a very strong demand from Kerala State Civil Supplies Corporation and improved enquiries from upcountry buyers. There were some export enquiries at the bottom of the market.
The orthodox dust market barely remained steady and tended to ease. The quantity offered was 6500 kg.