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Friday, May 7, 1999

Good demand for CTC teas at Calcutta sale 

Baren Bhattacharya  
Calcutta, May 6: The Calcutta tea sale no 18 showed good demand for a low quantity of teas on offer. Prices hovered around their past levels with some softening trend. The arrival of tea at the current sale improved slightly to 17,424 packages against 15,818 packages in the past sale following some rainfall in tea producing districts in north India.

There was good demand for 9,988 chests of CTC teas offered in the sale with a little above 90 per cent consumed mainly by domestic buyers. But the prices almost remained at their previous levels.

Good Assams brokens ruled between Rs 120 and Rs 135 per kg while fannings of same category quoted between Rs 115 and Rs 125 a kg. There was a falling tendency for medium Assams and the bolder variety fell more. Price levels hovered round Rs 100 and Rs 110 a kg. Dooars brokens on offer were readily absorbed at rates between Rs 110 and Rs 120, and fannings between Rs 103 and Rs 110 a kg. Bolder brokens eased further below the past levels. There were also some Cacharteas on offer that sold around past levels.

HLL was less active in the sale. Major takers were western Indian markets, well supported by the West Bengal traders. Fannings attracted some foreign enquiries.

Prices of Darjeeling teas continued to rule higher with whole leaf grades commanding more. The offering of around 500 packages was fully consumed. The minimum level of wholeleaf grade, fully absorbed by the continental buyers, was Rs 500 a kg and the highest was Rs 1120 a Kg for line of Temi, SK-1 FTGOP-1. Local buyers lifted medium brokens and fannings at attractive prices, with brokens starting from Rs 220 and fannings from Rs 180 a kg.

The market opened to a good demand for orthodox teas of 5,178 chests, of which around 95 per cent was sold. A small quantity of new season teas was offered of which clean, well made wholeleaf and brokens and liquoring sorts hardened but kept closer to past levels, with wholeleaf selling between Rs 110 and Rs 160 a kg, and brokens between Rs 80 and Rs 130 a kg. Fanningelicited improved demand and sold at irregularly dearer rates between Rs 85 and Rs 100 a kg. There were some old season orthodox which sold readily in line with quality.

The buyers were Gulf countries and CIS who absorbed the major quantity. Bengal dealers also consumed a substantial quantity of teas.

The dust variety with an offering of 1758 packages met with better demand with less than four per cent per remaining unsold. Prices moved up, with Assam varities selling between Rs 118 and Rs 127 a kg and Dooars between Rs 100 and Rs 106 a Kg. Selected Assams and Dooars dusts fetched good rates.

Western Indian markets were active in the auction. West Bengal dealers also operated at fair strength lifting a good volume. HLL was quiet.

Guwahati sale

Trading opened to a good demand for teas offered at Guwahati sale no 18 and prices moved downwards for most of the teas.

In the CTC section of the sale, selected best liquoring teas from Assam sold irregularly at around past levels between Rs 120 andRs 125 a kg with occasional lowering tendency. Remaining Assams declined in value by Rs 3-5 a kg between Rs 60 and Rs 105 per kg and often more, particularly for bolder categories in plain and medium segments which ruled around Rs 60-65 a Kg. Cachar teas were not available in the sale.

Western Indian traders remained the main buyer with selective operations by HLL and Eveready. There was hardly any enquiry from exporters.

The dust sale at Guwahati witnessed a fair general demand from buyers with 85 per cent out of an offering of 5,431 chests being sold. Selected better liquoring dusts sold at barely steady to dearer rates while medium dusts eased by Rs 3-5 a kg to Rs 92 and Rs 100 a kg with plainer variety falling further followed by some withdrawals.

Better dusts were readily absorbed by the Gujarat and Maharashtra buyers with fair domestic enquiry. HLL once again, was subdued.

Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.


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