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Tea Prices Rise on Exporter Demand Amidst Production Woes
20 Apr
Summary
- Exporter support lifted prices for specific orthodox leaf tea grades.
- Reduced offerings at auctions due to hot weather impacting production.
- Mixed price movements across CTC and orthodox leaf and dust grades.
Prices for select orthodox leaf grades at Coonoor tea auctions have seen an increase, driven by demand from exporters. Despite this, other tea grades maintained their prices, indicating a subdued demand from blenders. The auction platform is currently experiencing reduced offerings as the rising temperature has adversely affected tea production.
In Sale 16, Global Tea Auctioneers reported that 84% of the offered 14,08,201 kg of leaf grades were sold. Dust grades performed better, with an 89% sales percentage out of the 4,74,137 kg offered.
Price variations were noted across different tea types. High-priced CTC leaf teas and better liquoring sorts saw a steady to dearer trend, with some lots fetching higher prices. Better medium sorts in CTC leaf were also slightly up. Orthodox leaf grades, however, showed mixed results, with primary whole leaf grades being steady to occasionally dearer, while brokens were lower. CTC dust saw high-priced teas easing, while better medium sorts were steady to dearer. Medium and plainer CTC dust sorts experienced price drops, and some plainer lots were withdrawn. Primary orthodox dust grades were steady to occasionally dearer, with secondary and finer dusts remaining around previous levels.
