Tea prices in Kochi — both dust and leaf varieties — continued to rule lower following subdued demand from exporters, upcountry and local buyers.
Traders said that demand has started dwindling which is evident from the low purchasing by end-consumers. Ample availability at the auctions despite being a low-arrival period has also hit the prices.
However, the active participation by blenders helped to hold the prices especially for good liquoring varieties. They absorbed 75 per cent of the sold quantity of 8.18 lakh kg in CTC dust grades in sale 9, traders added.
The total quantity offered was 9.97 lakh kg, realising an average price of ₹165.92 per kg against ₹166.78 in the previous week.
The auctioneers Forbes, Ewart & Figgis said the CTC dust market remained barely steady and was lower by ₹2-5. It also witnessed some withdrawals. However, the decline in prices was less for good liquoring medium and plainer powdery grades. Kerala loose tea traders and upcountry buyers operated hand to mouth, while exporters confined to the bottom of the market, covering only a nominal quantity.
In orthodox dust, the market was lower by ₹3-5 and the quantity offered was 7,500 kg.
In leaf sales, exporters to CIS countries and West Asia lent fair support especially for orthodox leaf. Traders said that 92 per cent of the offered quantity of 1.79 lakh kg was sold. The average price realisation was down at ₹163 compared to ₹167 in the previous week due to a subdued buying.
In CTC leaf, the market for all varieties was lower by ₹5-10 and witnessed heavy withdrawals. The quantity offered was 49,000 kg and only 47 per cent was sold.
