Saturday, February 24, 2001
fesub.gif (4328 bytes)
Full Story
fe.gif (834 bytes)
India's first e-business paper
flnews.gif (5153 bytes)
Search FE
-
Download
BSE Quotes
NSE Quotes
-
 

Quality teas maintain steady level 

Baren Bhattacharya  
Kolkata: Local tea sale No 8 saw a remarkable comeback in terms of volumes sold. Barring a few varieties showing an uptrend, the prices of good quality teas generally maintained a steady level. The tendency seemed rather unusual, since this is the fag end of the season when the quality of the old season teas is on the wane. Actually, due to sudden increase in offtake from CIS shippers and domestic markets, turnover recorded a discernible rise.

A limited quantity of the new season CTC also arrived at the market. But its quality was below the mark and traded entirely at the private level, at slightly higher rates over prevailing auction prices.

At the CTC sale, where 49,676 chests were placed for bidding, more than 90 per cent of which were purchased. Bright liquoring Assam CTCs sold at around Rs 95-102 a kg while other teas sold according to quality. Dooars brokens and fannings suffered a fall of Rs 2-3 a kg. Assam brokens sold bewteen Rs 72-102 per kg. Fannings sold at Rs 70-88 per kg and Dooars at Rs 70-80 per kg.

All domestic sections, including western India, central India and local buyers were active takers with greater consumption by Hindustan Lever. CIS buyers lifted a fair quantity.

Nominal weights of Darjeeling tea, offered at substantially lower rates, witnessed a fair demand. The whole leaf variety dipped by Rs 20 a kg at Rs 120-200, good brokens eased at Rs 90-110 per kg from Rs 120-140, while good fannings declined at Rs 75-90 per kg from Rs 80-120 in the previous week.

The market opened with demand for an offering of 28,191 packages of Orthodox teas and the offtake remained fair at 85 per per cent. A nominal weight of tippy wholeleaf recorded a gain by Rs 5 a kg as north Indian buyers came in a big way. Good wholeleaf prices moved between Rs 90-135 per kg as against Rs 90-130 a kg in the previous sale, while good brokens sold dearer, between Rs 85 and Rs 110 a kg, up from the previous Rs 80-100 a kg. Fannings sold lower by Rs 2-3 a kg at Rs 46-54.

Besides north India, the CIS shippers were active buyers, while exporters to West Asia and Iraq were selective.

In the Dust section, where 23,386 packages were offered, there was a fall in demand. Price of good Assam variety fell miserably, to Rs 80-96 per kg from Rs 85-100 and medium Assam to Rs 66-76 per kg, against the previous Rs 70-82 per kg. Dooars Dusts too met a similar fate. Its prices eased by Rs 2 a kg to Rs 6-76 a kg.

Major consumers were Hind Lever and local buyers with selective offtake by packeteers. Sale no 8 in the Guwahati auction met with lacklustre response, with around 35 per cent of the offering remaining unsold.

The CTC sale with an offering of 53,430 packages resumed with a dull tendency. The prices of all Assam varieties witnessed a substantial fall due to poor tea quality. The Cachar varieties too eased, but by a narrow margin.

All major buyers were very selective takers while some non-traditional domestic buyers operated alongside. The market opened with a reduced demand of 23,148 chests of Dust teas, of which only 65 per cent sold at lower rates. Browner and other inferior varieties suffered major withdrawals. Tata Tea and Hind Lever absorbed limited quantities. Western India opted for some liquoring lines.

Copyright © 2001 Indian Express Newspapers (Bombay) Ltd.

- Lead Stories | Corporate | Infrastructure | Commodities | Economy/Finance | BSE Today | NSE/ Markets | Strategy | Convergence | After Hours top.gif (150 bytes)Top
flame.jpg (1068 bytes) © Copyright 2001: Indian Express Newspaper(Bombay) Ltd. All rights reserved throughout the world.
This entire edition is compiled in Mumbai by The Indian Express Online Media Limited, a division of
The Indian Express Group of Newspapers. Managed by The Indian Express Online Media Limited and hosted by CerfNet.