Traders estimate that the state-owned company will purchase 8 lakh kg before the festival season to meet demand. Upcountry purchasing was selective, while exporters absorbed more quantities than the previous week. However, their purchase was restricted to the bottom of the market.
Heavy rains and flooding in Kerala have impacted the Kochi tea auction market, resulting in lower demand from local buyers and loose tea traders. The offered quantities in CTC dust in sale 31 were lower at 8,57,657 kg, and traders expect arrivals to fall further in the coming trading sessions due to heavy rains.
However, the active participation of Kerala State Civil Supplies Corporation and private companies, including Indcoserve, has held the market by procuring 72% of total quantities sold.