A strong demand from local buyers and blenders, as sales will not take place next week on account of Christmas holidays, lifted dust prices at Kochi Tea auctions this week.
The market in sale 50 was up by ₹2 to ₹3 and the sale percentage was 97 per cent out of the offered quantities of 8,61,104 kg. The prices appreciated further as the sale progressed, especially for powdery grades. The auctioneers Forbes, Ewart & Figgis said that 60 per cent of the total quantity sold was absorbed by blenders, while export demand was subdued.
Orthodox demand rises
Orthodox dust market also witnessed a strong demand with prices dearer by ₹2 to ₹4. The quantity offered was 5,000 kg. However, traders said that orthodox leaf market was down following a subdued overseas demand especially from CIS countries due to winter season. The average price realisation was down by ₹6 per kg at ₹162 compared to Rs168 in the previous week. The quantity offered was 4,51,708 kg and only 75 per cent of the quantity sold. Exporters to West Asia lent only fair support.
CTC leaf market was also strong with 98 per cent of the offered quantity of 48,000 kg was sold. Brokens and Fannings opened on a steady note and it strengthened and appreciated in value as the sale progressed.