Quality Tea Prices Surge At Kochi Auction (22-Feb-2010)
The Kochi tea auction witness a good demand for quality teas whose prices surged while those of medium and lower quality gravitated lower.
At the dust auction, the arrivals were estimated at 12.47 lakh kg while the leaf auction had 3.2 lakh kg on offer.
At the auction, the good liquoring dust grades were firm to dearer while that of medium and plain grades were irregular to weak. At the auction, the loose tea traders of Kerala were active. AVT as well as Kerala State Civil Supplies Corporation and Hindustan Unilever absorbed good liquoring grades.
However, there was widespread demand for medium and plain teas from the exporters. The exporters also absorbed the bulk of the orthodox dust offerings.
Moreover, Nilgiri whole leaf grades as well as broken and fannings remained firm to dearer following the quality. The medium and lower grades were easier and generally quoted at last week's levels.
Meanwhile, there were several withdrawals from the medium and lower orthodox grades as the prices fell to meet the expectations. The shippers to CIS countries were active on Nilgiri teas along with traditional exporters.
Hindustan Unilever remained very active in Nilgiri fannings as well as whole leaf grades while there was subdued performance by the exporters to Iraq and Tunisia. At the CTC leaf auction, the internal buyers remained subdued while the exporters remained selective that witnessed fair amount of withdrawals.
The top price was fetched by Pasuparai SFD at Rs 132 at the dust auction followed by Pasuparai FD at Rs 127 s well as Kilkotagiri at Rs 126 and Parkside BOPD at Rs 122. Moreover, Glendale Speciality Tea, Twirl, fetched the record price of Rs 2,005.50 at the leaf auction. Chamraj FOP shared a distant second at Rs 357 followed by Glendale Superior FOP at Rs 253 and Glendale FOP at Rs 228.
Meanwhile, the tea import bill during the year 2009 had increased by 4.91 per cent as against in 2008 as more volume was imported at a higher price.
The latest period for which official data is available with the Tea Board till November, the country imported 22.95 million kg against 18.47 m. kg in the corresponding period of 2008.
Rs 84.44 a kg was paid as average price, up from Rs 78.97 in 2008. As a result, the import bill increased to Rs 193.79 crore from Rs 184.71 crore. The country imported teas from about 20 countries, some trading, not producing sources as well. Volume-wise, the largest quantity of 7.41 m. kg (2008: 7.28 m. kg) came from Nepal, followed by 5.46 m kg (1.46 m. kg) from Viet Nam, 2.53 m. kg (3.27 m. kg) from Indonesia and 2.37 m. kg (3.19 m. kg) from Kenya.
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