Calcutta, June 18: Darjeeling tea fetched better prices at Calcutta sale No 24 compared to the previous auction following an improvement in the quality, which can be attributed to the favourable weather conditions in North Bengal's tea growing regions.Prices of other categories offered in the sale were also higher.
The CTC offering of 24,340 packages witnessed good demand and nearly 92 per cent was sold out. Prices of Dooars varieties were up by Re 1 to 2 and sold at around Rs 90 to 100 per kg. Selected better Dooars fetched even higher prices. The prices of the improved liquoring medium grade Assam teas ruled Rs 2 to 4 per kg higher and ranged between Rs 68 and 80, including brokens and fannings.
Good Assams sold between Rs 90 and 105 per kg, around Rs 2 to 5 per kg up compared to the previous auction. Buyers from Gujarat, Maharashtra and West Bengal were quite active while Brooke Bond remained selective. Other packateers operated with limited interest. Dooars grade teas were picked up by Delhibuyers while CIS buyers restricted buying up to Rs 72 a kg.
At the Darjeeling sale where 4412 packages were offered, prices moved up following the improvement of quality. Some liquoring varieties witnessed good demand from continental buyers. However, Darjeeling brokens and fannings sold well at little above last week's levels and attracted better support from domestic buyers, including West Bengal dealers. The highest price of Rs 730 a kg was realised by a line of Teestavalley Tea Estates, namely FTGFOP-1.
The Calcutta orthodox sale No 24 where 15,398 packages were offered also witnessed good demand. Nearly 90 per cent of the offering was sold out. Prices of clean whole leaf, brokens and plain fannings ruled firm to higher while secondary lines sold at even higher prices. Whole leaf grades sold between Rs 80 and 90 per kg and brokens between Rs 75 and 80 as against the previous week's levels of Rs 70 to 80 per kg. Prices of fannings increased by Rs 2 per kg to Rs 70 to 75 per kg. Major blenders wereselective while Tata Tea lent fair buying support. The middle-east and continental buyers were fairly active and CIS and local dealers operating well.
The dust sale witnessed improved better demand and 85 per cent of the 7,603 packages offered were sold out. Best sorts sold well at previous week's levels. Prices of good and medium Assam varieties and secondaries ruled higher compared to the previous week. Clean wellmade liquoring varieties saw a further rise in prices. Assam grades sold between Rs 80 and 100 per kg and Dooars between Rs 70 and 90 per kg. Liquoring sorts were lifted by the West Indian buyers while useful buying support was lent by Tata Tea. Other internal buyers remained fairly active while Hindusthan Lever remained quiet.
Guwahati
Mixed trend was witnessed at Guwahati sale No 25 held this week. While seasonal varieties with improved quality sold well at higher prices, plainer varieties sold at around last week's levels or at even lower prices.
Mixed trends were witnessed at theGuwahati CTC sale where 75,300 packages were offered. About 40 per cent remained unsold. Good and better teas ruled firm to higher while medium Assam and medium sorts sold at irregularly easier rates. Prices of the non-liquoring varieties were lower and a major portion remained unsold. Cachars teas were not offered.
Liquoring teas were lifted by buyers from Gujarat and Maharashtra while other packeteers lent fair support. Brooke Bond was selective and CIS buyers subdued.
Guwahati Dust sale No 25 with an offering of 31,185 packages witnessed good demand. Better liquoring Assam teas with seasonal improved ruled firm to higher. Medium Assams ruled easy. Prices of non-liquoring and fibrous secondary dusts fell due to poor quality. Tata Tea was active in the sale. West Indian buyers were active for good liquoring teas and fair inquiry was extended by the CIS buyers.
London
London sale No 14, which resumed on June 6, witnessed the arrival of 8,471 packages of better quality teas, including landedand offshore varieties. At the landed sale where 5,471 packages were offered, average price ruled around 11.71 pence per kg. Better quality Burundi and cyclone grown teas witnessed higher demand and prices gained by 5 to 20 pence per kg over the past levels. Plainer east and central African teas received less inquiry and prices ruled easy. The best available teas quoted between 187 and 199 pence per kg while low medium grades ranged between 80 and 100 pence per kg. The top price fetched this week was 199 pence per kg by a Mooloye BOPF line. The landed sale included teas from Kenya, Sri Lanka, Burundi, Ethiopia, Zimbabwe, Malawi and Madagaskar.
In the offshore sale where 3,000 packages were offered, the average price for all varieties was 82.54 pence per kg. There was fair demand, but prices tended to fall.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.