The lower grades witnessed `corrections' at Kochi, Coonoor and Coimbatore during sale number 3. The inferior to medium teas, it may be noted, had flared up during the first and second sale in the previous two weeks following interest from speculators.

According to sources in Kochi, the good liquoring teas remained steady maintaining the Rs 60-plus-a-kg level. Though a fall in tea prices at all the three auction centres was expected, the decline in the inferior to medium has jolted some.Prices of dust at the Coimbatore auction centre was easier by Rs 2-3 a kg.

The CTC better liquoring ones remained steady and the others were tending easier by Rs 2-3 a kg. The plainer varieties' movement during the last two sales was sharp, registering a Rs 10-20 a kg increase. The prices went up from around Rs 36-39 (year end sale) and fluctuated in the range of Rs 55-60. According to sources in Coonoor, the prices of lower grades eased by Rs 4-6 a kg. The best teas managed to hold onto last levels.