Crime Today News
Despite a drop in prices, Kochi Tea auction market has witnessed a higher sales percentage both in dust and leaf grades. Both the varieties registered a strong demand with more than 90 per cent sales out of the offered quantities in sale 13.
The auctioneers Forbes, Ewart & Figgis said that CTC demand was strong with a 90 per cent sales out of the offerings of 6,20,204.90 kg. However, the market for good liquoring teas was lower by ₹1 to ₹2 and sometimes more. Medium teas were steady to irregular with some withdrawals. All blenders together absorbed 63 per cent of the total CTC quantity sold.
Orthodox dust market was steady to firm with 95 per cent sales out of the offered quantity of 10,500 kg. Exporters and upcountry buyers absorbed a small quantity.
Likely drop
However, some traders hinted a likely drop in prices further, thanks to upcoming good crop in North India which is expected to hit the market by mid-April.
The average price realisation was down by ₹1 at ₹161.85 compared to ₹162 in the previous week.
Orthodox leaf market was also strong with a sales percentage of 96 out of the offerings of 1,41,785 kg. Prices of whole leaf and brokens were firm to dearer while rest was irregular and sometimes lower. Middle East buyers were active, while CIS countries lent useful support.
CTC leaf witnessed 100 per cent sales out of the offered quantity of 24,000 kg. The market for brokens and Fannings was lower, especially high-priced teas. Export enquiries noticed at the bottom of the market.
The average price realisation was down by ₹1 at ₹191 compared to ₹192 in the previous week.
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