Orthodox teas saw strong demand at Kochi auctions and the Russian market remained buoyant.
Sale 17 witnessed strong demand with 94 percent of the quantity offered of 1,76,319 kg sold. According to traders, increased sales have pushed up the average price realization by Rs 6/kg to Rs 149, from Rs 143 a week earlier.
Traders noted that buyers from Iraq and Turkey were also active, further increasing demand. Although there are firm requests for orthodox South Indian varieties from European markets, it would take at least a month to translate into export orders. The Sri Lankan crisis has prompted European buyers to seek out orthodox varieties and South Indian teas could be a major competitor on the world market because North Indian production has just started with the first harvest, teas said. merchants.
The market for whole and broken Nilgiri leaves was more expensive between 2 and 5 rupees, and sometimes more, depending on the quality. Medium whole leaf valued between 5 and 10 rupees. Exporters to the CIS and West Asia were also active in the trade, said auctioneers Forbes, Ewart & Figgis.
The market for CTC sheets remained strong with 87 percent of the 44,000 kg offered sold. The good liquor rotas were from firm to more expensive.
However, powder sales failed to sustain price momentum, with average price realization falling Rs 3/kg to Rs 136. Traders attributed the decline to an increase in future offers.
The CTC powder market was lower by Rs 2 to Rs 4, with high-priced teas declining the most. Local buying was selective, while Supplyco and packateers provided fair support.
May 02, 2022