CALCUTTA, May 8: All categories of teas offered at the Calcutta auction sale No 18 this week registered an all-round decline in prices from the past week's levels.However, some select Darjeeling gained over the previous levels.
In the CTC section, where about 15,140 packages were on offer, prices in general fell by Rs 3 to 4 a kg from the past week's levels. More or less, 85 per cent of the offering was consumed by the buyers reflecting a good general demand.
Small and brokens and fannings sold between Rs 86 and 94 a kg while medium sorts were ranging between Rs 80 and 85 a kg. The good Assam realised slightly higher rates than the previous levels with smaller brokens and fannings of the Assam variety selling between Rs 89 and 95 a kg. A few lines of South Indian teas were also offered on sale and settled between Rs 70 and Rs 73.
West Bengal dealers along with their Gujarat and Maharashtra counterparts absorbed a fair amount of teas chiefly liquoring sorts while CIS buyers remained confined withinthe level of Rs 82 a kg. There were limited export inquiries. Brooke Bond resumed selective operation with other domestic buyers making inquiries.
In the Darjeeling section 3,499 packages offered. The sale met with good demand with a few select grades selling at attractive prices and were absorbed by the continental buyers. Some liquoring brokens and fannings also sold well and received good support from the exporters. The West Bengal buyers remained active for brokens and fannings at previous levels.
There were 9,692 kg of Orthodox teas on offer this week. The market opened to a lower levels following the lacklustre demand. Out of the total offering merely 65 per cent teas consumed by the buyers and the rest were withdrawn. Clean well-made whole leaf sold between Rs 90 and 95 a kg reflecting a loss by Rs 15 a kg.
Medium varieties ranging between Rs 85 and 90 a kg met with selective inquiries and were neglected. Brokens in general quoted lower by Rs 5 to 8 a kg to Rs 80 to 92 a kg and sufferedwithdrawals while fannings sold between Rs 70 and Rs 72 going easy by Rs 10 to 12 a kg.
The major operator, CIS, went very selective at lower levels while the major blender, Brooke Bond, resumed its offtake only on tippy whole leaf and fannings. Local dealers lent limited support to fannings and north India stood for long leggy whole leaf.
The Calcutta dust sale resumed with good demand with 95 per cent teas out of an offering of 3,676 packages being sold. However, the movement of prices was irregularly lower with best Assam continuing to realise attractive prices. While good Assam pecoe dusts sold between Rs 82 and 85 a kg, the smaller sorts were selling up to Rs 92 a kg. Medium Assam, on the other hand, were being quoted between Rs 72 and Rs 75 a kg with smaller pecoes dusts selling up to Rs 80 a kg. There were nominal weight of Dooars on offer which ranged between Rs 75 and Rs 80.
Gujarat and Maharashtra buyers were active for better liquoring dusts while West Bengal dealers operated for dusts ingeneral. The majors remained quiet with other domestic buyer selective.
Meanwhile, in the Guwahati sale No 19, which concluded this week, prices moved further downward from the last levels.
In the CTC section of the Guwahati where 71,010 packages were put up for sale, 90 per cent was sold. This reflects a good general demand. Good and better liquoring were selling at lower prices by Rs 3 to 6 a kg while the remainder declined further by as much as Rs 8 a kg. Fannings and holders were among the major suffers.
Nestle and Godfrey Phillips operated with imported strength with limited buying by Brooke Bond, the major blender. Western India opted for better sorts while medium grade teas were absorbed by the other domestic buyers.
The Guwahati dust sale with an offering of 26,227 packages, met with less general demand. About 35 per cent of the total teas offered, remained unsold. The prices of all categories registered a downward trend, particularly the plainer varieties were miserably neglected. Select CTCdusts attracted ready inquiries but were irregularly lower in line with the quality. The best sorts were lower by Rs 3 to Rs 6 a kg while the remainder further eased Rs 6 to 10 a kg following the limited demand. A large weight of medium and plainer descriptions received no support and were outlisted.
Among the buyers, the Gujarat and Maharashtra lent fair support for best lines with Brooke Bond continuing to be selective. There were limited inquiries from other packateers, too.
In the London sale no 11 which resumed on May 5, about 5,262 packages were put up for sale which originated from Kenya, Burundi, Uganda, Zimbabwe Malawi, Cameroon and Ethiopia. The overall demand was selective with bright liquoring Burundis selling well but the prices were irregularly lower apart from a few select lines which ruled firm. The medium east Africans were easier by up to 15 pence while the central Africans suffered negligence.
At the offfshore sale 4,200 packages were offered in the landed sale, of which few colouryKenyans sold easier but the majority of the offerings were neglected.
The average prices for landed teas were 113.89 pence a kg with Kenya ruling at 101.06p, Buruidi at 133.84p and Malawi at Rs 75.00 a kg. The top price realised this week was 150p for a Burundi PF1.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.