A controlled need from purchasers dragged tea rates down at Coonoor auctions recently, with rates of lots of ranges ruling lower.
According to traders, the marketplace is anticipating brand-new flush in the 2nd week of Might, triggering lots of purchasers to wait. This might be a factor for rates to drop, traders stated.
With excellent rains in producing centres, tea production in this season is most likely to be excellent and traders are anticipating an enhancement in tea arrivals to auctions platform.
International Tea Auctioneers stated costly and much better liquoring sorts in sale 17 in CTC leaf was lower by 4-5 and more sometimes. The much better medium sorts were hardly stable and were lower by 1-2.
In leaf orthodox, main entire leaf grades had reasonable need and offered completely firm to dearer by 4 -5. Brokens had reasonable need and offered completely firm to dearer by 2 to 3.
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Pricey teas and much better liquoring sorts in dust CTC were normally much easier by 5 to 6. Much better medium sorts were hardly stable to much easier by 1 to 2, sometimes some quality lots offered completely firm to dearer by 1 to 2 likewise. Usually, a reasonable need was observed in the total CTC dust sale.
The provided amount provided in was 9,58,983 with a sales portion of 89 percent. Dust market saw arrival of 3,42,989 and 97 percent offered.
Rajesh Gupta, Handling Director, Global Tea Auctioneers, stated South Indian tea production reported a drop of 7 million kg to 40 million kg from January to March 2023 compared to the very same duration a year back. Sri Lankan tea production likewise reported a come by 4 million kg to 59 million kg.
Nevertheless, Indian tea production of 77 million kg throughout the duration was a record high due to a healthy crop in North India, he stated.