Tea prices experienced a decline in Kochi auctions during sale 21, with the CTC dust market witnessing fair yet cautious demand from buyers who remained highly quality conscious. According to reports from The Hindu BusinessLine, the offered quantity was 5,61,688 kg, achieving a sales percentage of 76%. The average price realization dropped by ₹2 per kg to ₹155.55 compared to ₹157.88 in the previous week.
In the CTC dust segment, good liquoring teas were lower by ₹1-2 per kg and witnessed some withdrawal, while medium teas were also lower and saw significant withdrawal due to lack of bid. As reported by The Hindu BusinessLine, all blenders together absorbed 71% of the total CTC quantity sold, according to auctioneers Forbes, Ewart & Figgis. The orthodox dust market also declined, with primary grades firming while secondary teas remained unsold.
The orthodox dust market showed mixed results, with primary grades firming while secondary teas were unsold. According to Anil George, President of Tea Trade Association of Cochin, as reported by The Hindu BusinessLine, the orthodox market continued firm, supported by strong demand for well-made whole leaf teas. Active participation from Middle East and CIS buyers ensured healthy sale percentages, with CIS and neighbouring countries providing useful support while fair enquiry was noticed from the Middle East.
Traders attributed the cautious demand to market uncertainty and closure of hotels and way-side eateries due to LPG shortage and labour shortage, which has impacted local tea sales in the auction market. As reported by The Hindu BusinessLine, the total weighted average in the auction was lower compared to the previous week, primarily due to higher quantity of low medium and secondary teas sold.
