New Delhi: Tea Price Update. The effect of falling tea auction prices in North India has started showing its sales price in Kochi. Not only the dust, but also the drop in the prices of all varieties was recorded. Export demand for tea was also lower this week. The popular tea CTC Dust market in the country was barely stable. On Saturday, its prices saw a drop of one to three rupees per kg in early trade, but as the market gained momentum, the decline kept increasing. Weak, medium and plain tea prices were seen to fluctuate more and ranged from five to 10 rupees. According to auctioneers Forbes, Ewert and Figgis, the price of PD grade tea declined.
A total of 7,25,276 kg CTC quality tea was offered at the auction, with AVT, Kerala State Civil Suppliers Corporation and Ensil Global Beverages showing considerable interest. About 75 percent of the total available goods were purchased by these blenders and canned tea companies. Demand from open tea traders and distant buyers remained weak.
Average price Rs 160
The average price of leaf variety tea fell to Rs 160 per kg this week, from Rs 170.52 last week. The CTC leaf market was also weak at Rs 5-10 per kg. The auction received low bids and some bids were also withdrawn. Exporters took less interest in the market. They bought very small quantities, which had an impact on the price.
