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Friday, January 1, 1999

Tea prices show an upward trend at Calcutta auction centre 

Baren Bhattacharya  
CALCUTTA, DEC 31: Tea prices showed an all round uptrend, particularly for CTC and dust categories at sale no 52, the concluding sale of 1998. Orthodox and Darjeeling varieties, however, met with mixed response with prices of a few grades shooting up and others falling.

In the CTC section of the sale, the market opened to a better general demand with prices looking up for all grades. Good Assams brokens were up by about Rs 5 per kg and quoted between Rs 100-125 a kg. Some selected better liquoring Assams appreciated further. The fannings in the good Assams also were dearer by Rs 3-5 per kg ranging between Rs 87 and Rs 103 per kg. Medium Assams brokens and fannings ruled between Rs 50-61 per kg, a rise of Rs 3-5 per kg. Dooars prices showed similar trend, registering a moderate gain by Rs 2-4 per kg to Rs 55-70 per kg.

More than 95 per cent of the 42,785 chests of CTCs on offer were sold. HLL operated with increased strength after remaining subdued last week. Other packeteers remained selective. NorthIndian buyers, particularly Delhi traders were active in their operations with western Indian markets opting once again for liquoring lines. CIS shippers also lent fair support in the sale.

Due to decline in quality in Darjeeling teas owing to the cold wave, sale of this category was marked with mixed responses. There were 6734 packages on offer which met with fair demand. About 15 per cent of these remained unsold. Some selected whole leaf and broken teas were readily absorbed by the continental buyers, including UK and Germany, at last levels. While the remaining whole leaf was easy there was hardly any taker. Brokens and fannings were generally absorbed by West Bengal buyers at firm rates.

Market opened to good demand for Orthodox teas on offer which amounted to 21,654 chests and out of this more than 90 per cent was consumed by the markets. In the whole leaf grades, few selected tippy liquoring teas sold well in line with the quality and maintained the previous levels between Rs 100-125 per kg. Theother whole leafs were lower by Rs 5 per kg and sold between Rs 70 and Rs 100 as against Rs 75-100 per kg. Stalkier varieties discounted further as quality dropped.

Cleaner larger teas in brokens grade continued to remain firm while smaller brokens tending easier and at times neglected. Brokens Orthodox ruled between Rs 65-98 per kg as against Rs 70-100 per kg. Fannings also witnessed similar trend and fell by Rs 1-2 per kg and ruled between Rs 64-70 a kg.

Tippy teas were absorbed by continental shippers while HLL was selective in its purchase. CIS and Middle East shippers involved in routine buying while Persian Gulf shippers operated on selective grades. Fannings attracted some continental enquiries, but at lower levels.

There were 19,496 chests of dust teas on offer this week and met good demand at higher prices. The market consumed about 90 per cent on offer. Bright liquoring and cleaner dusts, both in Dooars and Assams, sold at dearer rates while clean well made medium category dusts ruled firm.Browner fibrous and secondary lines, however, tended easier. Consequently, some portion remained unsold. The overall Assam dust ranged between Rs 85-120 per kg compared to Rs 75-125 per kg in the past week, while Dooars sold between Rs 70-88 per kg as against Rs 66-71 in the last sale.

Guwahati sale: Prices of teas, both CTC and dusts, registered a gain over the past levels in the Guwahati sale no 52 resumed this week.The CTC sale in the Guwahati auction, wherein about 77,843 chests were on offer met with improved demand with more than 90 per cent CTCs being sold. All better liquoring Assams were dearer by about Rs 4-6 per kg.

The brighter fannings in the Assam category was irregularly higher following active competition among bidders. Medium Assam brokens also ruled firm while browner sorts declined in prices. In medium Assam CTC teas, the fannings sold at barely steady rates at the opening but decline towards close. Few poor quality and fibrous teas were neglected and left unsold.

HLL was subdued intrading while good offtake resumed by the western Indian markets for brighter liquoring and fannings teas. Other domestic buyers also lent improved support compared to the last sale. Among the packeteers, Godfrey Phillips, Tata Tea and Eveready along with exporters remained quiet.

There was less general demand for dust teas in the Guwahati sale where 35,345 packages were put up for sale and of it more than 25 per cent teas left unsold. Better liquoring dusts met good competition. This led prices to go up and were absorbed by the western India markets. Cleaner secondaries also scaled up in line with competition it faced. Fibrous varieties, however, dropped in prices following the fall in quality. Medium dusts, on the other hand, sold at barely steady rates. Grainy Cachar ruled fully firm. Fibrous secondaries on offer were neglected.

Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.


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