Tea dust sales witness lots of withdrawals
The absence of sales due to the Easter Holidays this week resulted in tea prices, especially good liquoring and popular marks, at Kochi auctions to appreciate.
Auctioneers Forbes, Ewart & Figgis said popular marks of Kerala and good liquoring teas in CTC dust grades with black appearance were firm and sometimes dearer in sale 13. The rest was irregular and lower and witnessed a lot of withdrawals.
However, lower crop in production centres hit tea arrivals to the auction centre and out of the 7,27,067 kg offered, the sold quantity was only 81 per cent. The average price realisation was down by Rs.3 at Rs.141 compared to last week. Improved demand was noticed from loose tea traders due to upcoming holidays.
Meagre orthodox offerings
Orthodox dust offerings were only 500 kg and 100 per cent of the quantity sold with upcountry buyers absorbing a small quantity.
In leaf varieties, overseas shipments for orthodox varieties were on the lower side due to declining enquiries from buyers in view of the fag end of the season. The offered quantity was also lower at 1,62,867 kg with a sales percentage of only 74 per cent. Traders said that traditional exporters to other destinations were active.
With only a fair demand, CTC leaf prices were lower with 70 per cent of sales out of the offered quantity of 31,000 kg. Kerala and upcountry buyers were the mainstays of the market.