Supplyco’s buying lifts tea prices at Kochi auctions

A strong purchase made by Kerala State Civil Supplies Corporation at Kochi tea auctions has lifted prices of dust varieties this week.

The market appreciated by ₹3-10 and sometimes more and because of the strong demand showed by the state-owned Supplyco, 95 per cent of the quantity offered in sale 14 was sold. The total quantity offered was 8,58,465 kg. The surge in price was more on medium and plainer teas, said the auctioneers Forbes, Ewart & Figgis.

The strong purchase also reflected in the realisation of the average price which rose to ₹130.27 per kg from ₹120.90 in the previous week. The State-owned entity has made such a heavy procurement for the distribution of tea under PDS in the food kits of essential items being distributed in the lockdown period, traders said.

Kerala Loose Tea Traders and upcountry buyers lent useful support in the auctions, while the demand from exporters was subdued.

In orthodox dust, the market was dearer by ₹5-7 and a small quantity absorbed by upcountry buyers. The quantity offered was 3,975 kg.