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Saturday, December 5, 1998

Higher arrivals dampen Calcutta tea sale 

Baren Bhattacharya  
Calcutta, Dec 4: Higher arrival of teas and absence of foreign enquiries led Calcutta tea sale No. 48 to be easy during the week. There was poor offtake compared to the previous week's sales. Out of a total arrival of 85,709 packages, about 15,427 packages were left unsold. However, about 95 per cent of leaf teas, including orthodox and Darjeeling varieties were consumed at better prices.

The CTC sale opened to lower levels and out of an offering of 43,720 packages, only 70 per cent was consumed. Dooars brokens offered were lower by Rs 2-3 a kg and quoted between Rs 57-67 per kg. Dooars fannings were lower by Rs 3-6 per kg and quoted between Rs 51-66 per kg. A nominal weight of good Assam CTC was put up for sale and was lower by Rs 3-4 a kg from Rs 85 and Rs 115 per kg. Medium Assams showed similar trend, easing by Rs 2-5 a kg and ruled between Rs 46-62 per kg including brokens and fannings.

Western Indian markets lowered their offtake from the previous levels with Hindustan Lever being selective inoperation. Other domestic buyers also lent less enquiries. CIS shippers, however, remained active and lifted teas up to the level of Rs 69 per kg.

Orthodox sale, the offering of which was nominal at 16,577 chests compared to past week's 41,449 packages, attracted good demand from overseas and domestic buyers. More than 90 per cent of the offering was lifted. Some tippy and liquoring teas were sold at attractive levels and clean whole leaf categories at firm to dearer rates between Rs 85-130 per kg compared to previous levels of Rs 80-125 per kg. The remaining orthodox, however, were sold according to quality lines, often at lower levels. Brokens and fannings ruled almost at earlier levels between Rs 70-105 per kg and Rs 70-75 per kg respectively. CIS shippers were selective in their purchases while West Asian shippers offered good buying support for tippy and liquoring orthodox teas. Persian Gulf shippers were also fairly active with North Indian markets operating selectively.

There were 6,239 chests ofDarjeeling teas on offer which met with good demand at attractive levels. Selected few liquoring whole leaf teas witnessed fair competition between continental shippers and realised better prices. Fannings and brokens varieties of Darjeeling teas were absorbed by local buyers at dearer to last levels. Hind Lever, on the other hand, operated for whole leaf as well as brokens and fannings.

At the dust section of the sale wherein 18,973 packages were put up, all prices moved downward from past levels. Offtake of dust teas, however, remained 80 per cent as in the past sale. Few medium Dooars found their buyers at irregularly lower rates while good Dooars were not offered. Dooars teas ranged between Rs 62-82 a kg against Rs 64-84 per kg in the past week. Selected liquoring Assam dusts were sold around last levels while remaining teas eased by Rs 2-3 per kg. Assam dusts were quoted between Rs 90-110 per kg compared to Rs 90-115 a kg last week.

Hind Lever and Tata Tea extended selective buying support lifting anominal quantity while buyers from western Indian markets absorbed a fair amount of teas, particularly liquoring varieties. Other domestic buyers also lent fair support at reduced rates.

Guwahati sale:

Guwahati sale No. 48 witnessed a marginal fall in demand compared to the past week. Consequently prices for both CTC and dusts fell. There was hardly any overseas enquiry in the sale.

The market opened to an all round easier note with prices falling from the past levels throughout the sale. Buyers realised about 75 per cent of the offering amounting to 74,859 chests. Select grainy, clean and liquoring Assam category teas were sold at rates lower by Rs 2-3 a kg. The remainder eased further by Rs 3-4 per kg with bolder brokens and poor leafy teas were down by Rs 5 a kg. Cachar CTCs, though offered, remained unsold.

A good quantity of teas were absorbed by Hind Lever while Eveready remained selective. Other packeteers were almost inactive. The western Indian market also lifted lower quantity teaslimiting their offtake to better quality CTCs. CIS and Poland remained less active compared to the past week.

Guwahati dusts sale where 34,524 packages were on offer and 80 per cent sold so far, met with fair general demand. An all round easy trend prevailed, with selected clean and liquoring teas tending lower by Rs 2-3 per kg and the remaining dusts were lower by Rs 3-4 a kg. Prices declined further. Cachar remained unsold.

Hind Lever and Tata Tea were selective in their purchases and procured lower quantity teas compared to the last levels. Harrison Malayalam, Eveready and other packeteers also lifted nominal quantity of dust teas. Western India, however, operated with good strength but at lower rates. Other domestic buyers were subdued.

Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.


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