Kochi tea auctions: New Year brews cheer for traders

The New Calendar year introduced some cheer to traders at the Kochi tea auctions, which witnessed a surge in prices, specifically for leaf versions, in the initial sale.

Traders cited superior export enquiry and procurement for North Indian market for lifting prices in sale 1, obvious in the common selling price realisation that went up to ₹158 for every kg from ₹149 in the previous week. Gross sales were being great with ninety four for every cent of the provided amount of 2,05,579 kg marketed.

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Traders claimed the commencement of off year in North Indian markets has compelled customers to start out procuring leaf from South Indian auctions and this would even more push up prices in the forthcoming trade. Exporters confined on their own predominantly to orthodox leaf when upcountry customers concentrated on CTC leaf.

Sturdy demand from customers for total leaf, brokens

The market for Nilgiri total leaf appreciated by a for a longer period margin of ₹5 to ₹10. There was strong demand from customers for total leaf and brokens, which was dearer by ₹5 to ₹10, claimed auctioneers Forbes, Ewart & Figgis.

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CTC leaf market was also great with prices for brokens and fannings appreciating by ₹5 to ₹7. It also witnessed some withdrawals thanks to low bid or absence of bid. The amount provided was seventy nine,500 kg with lively participation of upcountry customers.

Having said that, CTC dust market was continuous to organization and from time to time dearer by ₹2 to ₹3. The amount provided was ten,75,823 kg. Large-priced teas witnessed some resistance, which was irregular and reduced, subsequent high quality. The common selling price remained at the similar amount of ₹175 quoted last week.

There was improved demand from customers from Kerala free tea traders and upcountry customers.

For orthodox dust, exporters were being the big stakeholders. The complete amount provided was 16,500 kg. The market for principal teas remained continuous, when others were being irregular and reduced.