The increase in future tea offerings has impacted prices at Kochi auctions, particularly for CTC dust grades this week. In sale 18, the market for high-priced teas was lower by 3-5 a kg, while good liquorings were easier by 2-3.
Out of the 10,77,018 kg offered in the auctions, there was more than three lakh kg of unsold quantities. Blenders accounted for 68% of total volume sold, with the average price realization remaining unchanged at $135 from the previous week.
Kerala loose tea traders and upcountry buyers were picky, while exporters worked at the bottom of the market, covering nominal amounts.
According to traders, the market anticipates good crop arrivals in the coming trading sessions which would help revive the trade.
Meanwhile, orthodox leaf exporters to the CIS and West Asia remain active, with 84% of the offered quantity of 2,38,844 kg sold. The market for Nilgiri whole leaf and broken was stable to occasionally more expensive as quality improved.
This is evidenced by the average price realization, which increased by 7 in the previous week to 156. According to traders, high-priced and high-quality teas are in high demand not only in Russia but also in other European countries.
Tunisian and Iraqi buyers were limited to lower-quality teas that were fully firm to more expensive.
The market for high-priced teas in CTC leaf was smaller, with 47,000 kg offered. Medium and plainer varieties remained inconsistent and tended to ease.
About Indian Tea Association:
Indian Tea Association, founded in 1881, is India's premier and oldest tea producer organization. The Association has played a multifaceted role in developing policies and initiating action to promote the development and growth of the industry.
The ITA has branches in various parts of Assam and West Bengal. The ITA and its branches account for more than 60% of India's total tea production, with over 425 member gardens. More than 400,000 people are directly employed by ITA member gardens as employers.
