Tea prices fall in Kochi due to increase in arrivals

Tea prices continued to fall in the Kochi auction following increased arrivals due to favorable weather in the production centres.

According to traders, the fall in prices led to good demand for both dust and leaf grades from buyers in Sale 28. CTC dust offered 7,20,613 kg with 86 per cent sales. All blenders together absorbed 62 percent of the total CTC quantity sold.

After the increase in offerings, the market for fine liquor tea declined with a decline of ₹2 to 3 and sometimes more. This is evident from the average price realization falling by ₹3 to ₹140 as compared to ₹143 last week. Auctioneers Forbes, Ewart and Figgis said there has been an improvement in the operations of Kerala’s loose tea traders compared to last week.

Exporters were the main stakeholders in the orthodox dust market and witnessed 100 per cent sales of the offered quantity of 8,500 kg.

The Orthodox Patti market also collapsed and the entire Patti barely remained stable. Others were lower with long margins of ₹5 to 10. Exporters from CIS and Middle East countries were active, while upcountry buyers provided due support. The quantity offered was 2,85,431 kg with a sales percentage of 85.

Demand for CTC leaf was fair with a sale percentage of 78 out of the offer of 36,500 kg. The market for broken goods was from strong to expensive while that for fannings was irregular. Some evacuation was also seen in this.