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Kochi Tea Auctions Surge on Middle East & CIS Demand
23 Jan
Summary
- Overseas buyers from the Middle East and CIS countries are driving higher tea prices.
- Good and medium whole leaf and brokens saw prices rise by Rs5 to Rs10.
- Orthodox teas are expected to continue outperforming due to supply-demand imbalance.
Prices at Kochi tea auctions have significantly increased, propelled by robust support from international buyers, especially those from the Middle East and CIS regions. The market for whole leaf and brokens tea has shown a marked improvement, with prices appreciating by Rs5 to Rs10 and sometimes more, attributed to the quality of the offerings.
Auctioneers reported that good and medium grades of whole leaf and brokens were firm to dearer, indicating a consistent upward trend. The offered quantity for orthodox leaf was 2,42,390 kg, with an impressive 92 percent sales registered. This strong performance is attributed to sustained buying interest and a favorable supply-demand balance.
Traders noted substantial purchases from Russian buyers, a common occurrence during this period. While the market in Iran has been subdued due to ongoing unrest, the overall outlook for orthodox teas remains positive. Experts predict that prices are likely to continue outperforming, with market sentiment expected to stay firm until the second week of February.
