India Business Forum

Search Button

The Indian Express

The Financial Express

Latest News

Market Indicators

Screen

Boulevard India

Celebrity Chat

Express Computers

Express Power

Letters

Advertisers Forum


Headstart

Business Forum

Lifemate

Zevraat

Express Properties

Palki - Travel

Information Technology

Astrosurf

Eco-India

Dr Know

Morning Digest

Express Greetings

Graffiti


FINANCIAL EXPRESS FRONT PAGE

Corporate

Economy

Expressions

Markets

Leisure

 

Saturday, November 28, 1998

Calcutta tea auction sees divergent trend 

Baren Bhattacharya  
CALCUTTA, Nov 27: Calcutta tea auction on Thursday witnessed a divergent trend as orthodox and Darjeeling teas scaled past levels. The CTC and dust remained quiet.

In the CTC sale trading opened to a fair general demand as more than 85 per cent of teas out of 41,449 chests were sold. Few liquoring and well made Assam CTCs which include brokens and fannings were sold around last levels between Rs 85 and Rs 115 a kg. The medium Assam brokens and fannings, which quoted between Rs 50 and Rs 65 a kg, declined by Rs 5 per kg.

Dooars categories also met with similar trend and were sold between Rs 54 and Rs 70 per kg. There were some Cachar teas on offer in the sale and was readily absorbed by the buyers at barely steady prices.

Hindustan Lever and Godfrey Phillips were fairly active in trading. The Gujarat and Maharashtra buyers absorbed liquoring CTCs and received good support from domestic buyers. CIS shippers who opted for bolder brokens, confined their bidding up to the level of Rs 74 a kg.

All the 6120packages of Darjeeling teas on offer were absorbed by the consumers. The whole leaf categories were lifted by Hind Lever and Persian Gulf shippers at slightly dearer levels while Continental and Iran shippers operated for whole leaf and good brokens at about last levels. Fannings and lower category brokens also maintained past levels and were consumed by the West Bengal markets.

In the orthodox section, wherein about 20,711 chests of teas presented for sale registered a good demand. Merely six per cent of the offering remained unsold. Few tippy and liquoring grades in whole leaf category were sold at attractive prices. Cleaner sorts, on the other hand, were fully firm with occasionally dearer trends. Whole leaf categories were quoted between Rs 80 and Rs 126 showing sharp increase by Rs 5 a kg.

However, a fall was witnessed in stalkier orthodox. The other teas, particularly smaller brokens and fannings recorded steady to dearer trend with larger brokens maintaining last level. The brokens and fanningsorthodox were quoted between Rs 70 and Rs 105 showing a gross increase by Rs 5 a kg.

Hind Lever and CIS shippers were selective in their operations. West Asian shippers lifted fair quantity of tippy and liquoring teas. They also extended good support to orthodox sale.

There was good demand for 23,393 packages of dust teas offered in the sale. About 80 per cent of the offering was consumed by the markets. Medium and plainer dusts from Assam were sold at irregularly lower rates in line with quality. Even the buyers neglected best Assam dusts. Dooars Dust as well secondaries also remained unsold. Assam dusts variety was quoted between Rs 50 and Rs 115 a kg while those of Dooars ranged between at Rs 60 and Rs 84 per kg.

Among the consumers, western Indian markets absorbed fair quantity of liquoring dusts with Hind Lever and other packateers extending good support. Guwahati sale: There was a good demand for all categories of teas at the Guwahati sale no 47. The price trend, however, was divergent with CTCregistering steady to firm notes. The dust category declined in prices.

In the CTC section, where about 77,45 chests of tea were on offer witnessed a fairly general demand as more than 80 per cent was absorbed by the markets. Selected better Cachar teas were sold at last levels, while remainings were easy by Re 1 a kg. Fannings, offered so far, showed weak trend, easing by Rs 2 to Rs 3 per kg. About 31,092 packages of dust tea were on offer at the Guwahati sale which met with a good demand. Selected clean and good liquoring dusts teas of Assam and Cachar varieties declined by Rs 2 per kg. Secondaries also declined by Rs 2 per kg.

Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.


Top


The Ambassador Group of Hotels

Global Tenders invited by MSTC

The National Stock Exchange of India (NSE)

 

Click here for a printer-friendly page Printer-friendly page

One of India's Leading Banks


The Indian Express  |  The Financial Express  |  Latest News
Screen  |  Express Investment Week  |  Market Indicators  |  Express Computers
Astrosurf  |  Eco-India  |  Travel & Tourism  |  Information Technology  |  Drumbeat: Ad Buzzaar
Advertisers Forum  |  Career India  |  Business Forum  |  Match Maker  |  Express Properties