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Friday, November 6, 1998

Leafy tea varieties gain in Calcutta sale 

Baren Bhattacharya  
Calcutta, Nov 5: The leafy varieties, particularly the Darjeeling and orthodox teas, offered in the Calcutta tea sale No 44 registered a gain on the past sale while the CTC and dust grades lost. The uptrend in leafy tea prices was mainly due to the improved offtake by overseas shippers and Hindustan Lever Ltd. The decline in quality due to commencement of the cold season was the major reason for slump in prices of the CTC and dust varieties.

In the CTC section, where 37,199 packages were offered, the market opened with a good demand at lower levels. However, about 15 per cent of the offering remained unsold owing to poor quality of the tea. A select line of liquoring Assam CTC, including brokens and fannings, sold between Rs 85 and Rs 115 per kg and the remaining liquoring lines sold lower by Rs 2 to Rs 3 per kg than the past sale. Medium Assam CTC sold at irregularly lower rates between Rs 56 and Rs 75 a kg, in line with quality, against Rs 58 and Rs 78. There were nominal quantities of Dooars teas onoffer which fell between Rs 68 and Rs 80 a kg, Rs 1 to Rs 2 per kg less than in the past sale.

Western Indian markets opted for liquoring CTC at lower rates while HLL took limited interest in the sale. West Bengal traders offered better support. CIS, on the other hand, resumed limited buying at moderate prices.

Darjeeling sale witnessed a good demand with about 100 per cent of the offer, amounting to 7,626 packages, being consumed. A select consignment of whole leaf teas, lifted by HLL and continental shippers, maintained the last sale price. The other varieties, particularly brokens and fannings, which met with stiff competition, sold at attractive prices. These categories were bought by HLL and enjoyed worthwhile support from the West Bengal buyers.

There were 16,600 packages of orthodox teas on offer in the local sale which were absorbed entirely by domestic and overseas buyers. The tippy and liquoring whole leaf orthodox sold between Rs 90 and Rs 120 per kg, a gain of Rs 5 per kg, after meeting withgood competition. All clean brokens were also dearer by Rs 5 per kg. The remaining brokens, however, maintained the previous levels. Fannings also reflected similar dearer trend.

HLL was the main player in this section absorbing a moderate quantity while European shippers continued to lift liquoring teas. There were better enquiry from CIS and Poland shippers with good support from the Middle-East buyers. Local buyers were also active in the sale.

In the dust sale, more than 85 per cent of 18,902 packages offered were sold. The sale met with good demand with selected better pekoe and larger dusts selling at firm to last levels. The other teas declined by Re 1 to Rs 2 per kg. A nominal quantity of Dooars was offered which also witnessed a fall by Rs 2 to Rs 3 a kg and were selling between Rs 68 and Rs 88 per kg.

The easing of prices was due to limited buying by HLL. The other packeteers, however, lent useful support. The western Indian markets also kept low on liquoring lines. The liquoring pekoe andlarger dusts were consumed by the continental buyers while West Bengal traders rendered better support in the sale.

Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.


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