Strong export demand from CIS nations and neighbouring countries lifted orthodox tea prices, leading to a higher percentage of sales at auctions.
The auction platform witnessed 99 per cent sales out of the offered quantity of 2,18,683 in Sale 20 with a ₹3 increase in average price realisation.
Traders said Russia and the UAE remained the major buyers, while enquiries from Iran also continued through third-party purchases. Reports indicate that Iranian buyers are exploring alternate shipment routes, and market participants expect direct Iranian buying to revive the auction market further, particularly for brokens and long-leaf varieties.
According to traders, overseas buyers are actively scouting for orthodox grades from South Indian auction centres as prices for the brew have surged in North India following the first flush season. However, limited arrivals in South Indian auction centres remain a concern and could force buyers to turn to Sri Lanka for purchase.
West Asia active
