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Saturday, August 22, 1998

Good demand at Calcutta tea auction 

Baren Bhattaqcharya  
Calcutta, Aug 21: Good demand was witnessed at the weekly Calcutta tea sale No 33 with more than 88 per cent of the offerings being sold at lower levels.

In the CTC section of the local sale, about 90 per cent of the total offering amounting to 35,5589 packages were sold. Medium Dooars Cachars remained steady at around Rs 68 to Rs 83 per kg while medium Assams ruled narrowly upward between Rs 66 and Rs 81 per kg.

The quantity of good Assams offered this week was less and was sold irregularly depending on quality. Major among the buyers were Brooke Bond and some other packateers who picked up tea for export purposes. Western India buyers operated for liquoring kinds with good support from North Indian markets.

The brokens and fannings attracted good export inquiry from global traders and Bush Tea Ltd. CIS buyers operated up to the level of 75 a kg.

Darjeeling teas also showed a downtrend in prices. However, the sale met with good demand from the exporters and local buyers. The offering in this section remained as 5825 packages of which most of the teas were sold. Continental buyers absorbed the liquoring whole leaf grades at marginally high rates while the remainder sold at last level and often at lower. Iranian buyers operated with fair strength. The local buyers opted for brokens and fannings at last levels. A line of Margaret's Hope Tea Estate realised the highest price, Rs 695 per kg in the sale.

An overall easy trend in prices marked in the orthodox sale wherein about 31,645 packages were on offer. However, the sale so far was better at 90 per cent. The clean well made whole leaf sold around last level between Rs 90 and Rs 125 per kg while rest of teas tended lower. Brokens grade eased in value by Rs 3 per kg from Rs 82-Rs 104 per kg ruling in the past sale. Fannings also ruled dull by about Rs 2 to Rs 3 per kg.

Midle East shippers and continental buyers were active for tippy lines. In the domestic buyers Tata Tea and Hindustan Lever were active.

The dust sale wherein 21,946 packages were put up for sale and 80 per cent of this was sold, registered a good general demand. Dooars sold at lower rates from the previous levels Rs 64-Rs 82 per kig. The medium Doors also followed suit and suffered withdrawals. The Assams categories met with good inquiry with selected liquoring PDs selling around last levels. The remaining teas fell by Rs 2 to Rs 3 per kg in line with the quality.

Guwahati sale No 34 was marked with distinctly lower trend with prices of CTC as well as dusts showing a massive fall. The CTC sale opened to fair demand with 75 per cent of the total offering, 98,701 packages being sold. The sale saw an all round drop by Rs 3 to Rs 5 per kg. The good Assams declined by Rs 3 to Rs 4 per kg while higher priced bolder brokens eased to further extent. Medium and plainer fannings also plummeted at similar extent. The non-liquoring teas, however, suffered withdrawals following negligence of the buyers. Brooke Bond was selective in their operation while Tata Tea and Godfrey Phillips extended good support. Exporters were quiet with less international support.

In the Guwahati dust sale wherein about 49,407 packages were put up for sale prices registered an all round slump. The sale saw an overall decline by Rs 3 to Rs 5 per kg with selected cleaner and better liquoring teas falling by Rs 3 to REs 4 per kg. The plainer sorts registered a further decline in value.

Major blender once again remained selective while Tata Tea on the other hand operated well. The Gujarat and Maharashtra buyers lifted liquoring dusts with other domestic buyers lent worthwhile support.

Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.


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