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Poor
quality tea fails to attract buyers
Our
Commodities Bureau in Kolkata
The first sale of year 2002 ended on a dismal note, with demand
as well as price falling considerably. Poor quality of the large
volume of offering of 1,14,300 packages failed to attract buyers’
interests, leaving 30 per cent of the total amount unsold.
In the CTC section, there was fair general demand. Barely 75
per cent was sold out of a volume of 50,524 packages. Few lines
of well made good liquoring brokens sold at last levels, between
Rs 95-110 per kg. Remaining grades sold lower in line with quality.
Gujarat and a few domestic buyers absorbed a considerable volume,
followed by some support from packeteers. Hindustan Lever, CIS
and Polish exporters consumed a limited volume of teas.
There was a nominal quantity of Darjeeling tea, mostly of poor
quality. Prices of all whole leaf suffered a setback, being
sold at Rs 85-150 per kg, barring a line of Margaret Hope which
sold at Rs 300 per kg. The brokens sold well at Rs 80-135 per
kg. West Benagl traders were main buyers in the sale with some
overseas export enquiry.
Orthodox teas were in very poor demand. In an offering of 33,535
packages, about 12,000 packages left unsold on poor response
from overseas buyers. Whole leaf prices also fell and a large
portion was withdrawn. Brokens also saw weak tendency while
fannings sold at around last levels.
West Asia and Poland shippers consumed a fair share of teas
while demand from all other consumers were subdued. There was
less demand for 24,564 chests of dust teas. Around 8,000 of
this was left unsold. Barring some selected clean liquoring
secondaries which sold at firm levels, all lines fell in prices
in line with quality. The higher priced teas suffered by around
Rs 10 a kg.
Hind Lever was an active buyer with fair support from Gujarat.
Other internal sections went for cheaper teas.
Guwahati sale
The Guwahati sale No. 1 showed steady demand with offtake remaining
at 63 per cent, like in the past several weeks. There was all
round easy trend. In the CTC sale with an offering of about
95,000 chests, barely 65 per cent sold and at lower levels.
Few lines of liquoring brokens which still have some seasonal
character readily sold at last levels. In the dust section where
27,700 chests were offered and 60 per cent sold, prices declined
in line with quality, with medium lines remaining unsold. Hind
Lever and Gujarat buyers operated both for CTCs and dusts while
south Indian buyers lifted a few dust varieties. All packeteers
operated with limited strength.
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