Christmas holidays, low arrival & local demand lead to dust prices up in the Kochi auction
In Kochi auctions, CTC (crush, tear, curl) dust prices went up because of strong local demand. There was no sale next week because of the Christmas holidays, and fewer shipments came in.
In sale 51, the price of the market went up by ₹2 to ₹4, and 97 percent of the 8,01,806 kg that was for sale were bought. Forbes, Ewart & Figgis, the auctioneers, said that the price went up more for powdery types than for grainier ones.
Blenders were active in the market, but Supplyco and buyers from upcountry didn’t do much to help. All blenders together took up 65% of the total amount that was sold.
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Traders said that the extra demand for tea from pilgrims going to Sabarimala, which happens every year during the Onam festival, also helped to drive up demand and prices.
As a result of the trade agreement, Nepalese tea could be brought in for less money. This hurt the high-quality Darjeeling Tea.
Orthodox dust was also in high demand on the market, where 82% of the 6500 kg that was for sale were bought. A small amount was bought by exporters and buyers from upcountry.
But because it was winter and the Christmas holidays, there wasn’t as much demand for leaves on the international market, which hurt sales at the auction and caused prices to go down. This is clear from the fact that only 63% of the 3,72,863 kg of orthodox tea leaves that were offered for trade were bought. The average price realized was ₹155, which was ₹7 less than the week before, when it was ₹162.
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At the same time, there was a strong demand for CTC leaf, and all 47,500 kg that was for sale were bought because blenders were involved. Demand from upcountry was limited and low.
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