Sluggish demand depressed tea prices at the Kochi auctions

Demand is weak tea prices both in fabric and sheet grades at the Kochi auctions, where many withdrawals are taking place.

The quantity offered in sale 44 was 7,14,187 kg with a sale percentage of 82. Tea with good liquors was lower by ₹1 to ₹2 along with medium and plainer teas, witnessing heavy withdrawals. All blenders together absorbed 50 percent of the total amount of CYC sold, according to auctioneers Forbes, Ewart & Figgis.

However, the market saw improved demands from loose tea traders in Kerala and reasonable demand from domestic buyers.

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Demand on the orthodox fabric market was reasonable with a quantity offered of 10,500 kg. The lower numbers held steady, while the rest were lower and there were some pullbacks. Exporters were the main stakeholders.

Despite the active participation of exporters to the Middle East and CIS countries, the market for Orthodox leaves was lower, with whole leaves and broken leaves barely stable. The quantity offered was 2,27,808 kg, which represents a sales percentage of 81. Some inquiries were noticed from domestic buyers.

In CTC leaf form there was a reasonable demand for good teas with a turnover of 63 percent from the quantity of 83,000 kg offered. The market for good liquors and Fannings was hardly stable and declined, while the rest was irregular.

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