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Saturday, March 13, 1999

Good overseas demand boosts prices at Calcutta tea sale 

Baren Bhattacharya  
Calcutta, Mar 12: Prices registered an uptrend at the Calcutta tea sale no 10 following the improved demand from the overseas as well as domestic buyers.

The CTC sale opened to a good demand with more than 90 per cent of the offering amounting to 34,892 chests of teas being sold. Liquoring CTCs met with increased demand and were sold between Rs 115 and Rs 125 a kg. There were some clean well made liquoring variety of CTC on offer and these sorts fetched attractive rates with occasionally dearer trends. The good Assam brokens were maintained between Rs 115 and Rs 135 per kg while Medium Assam brokens showed dearer trend for cheaper varieties by Rs 2 per kg and entire teas were sold between Rs 60 and Rs 70 a kg. The medium Assam fannings were dearer by Rs 5 a kg and ranged between Rs 45 and Rs 50 per kg in comparison with the past levels between Rs 40 and Rs 45 a kg.

The Western Indian buyers absorbed liquoring teas in higher quantity with useful support from the West Bengal traders. Hind Lever operated forsome selected lines while other packeteers were subdued. CIS shippers operated at lower levels quoting up to Rs 72 for one kg of tea. There were fair export enquiry for cheaper varieties of CTCs.

There was an end-season slump in Darjeeling tea sale wherein 1944 packages of teas were on offer. Few lines of autumnal touch quality teas, including whole leaf, brokens and fannings, gained in prices over the last levels and were absorbed by the continental and Japan shippers. West Asian and Polish shippers made some enquiry for the good liquoring whole leaf and brokens which maintained past levels. The remaining brokens and fannings were lifted by the West Bengal dealers at easy to firm rates.

There was good demand for orthodox section of the sale where 8,153 packages were offered and little over 90 per cent was consumed by the buyers. Few tippy and liquoring whole leaf orthodox, so far offered, were well received by the buyers at dearer rates. In this category, the lower varieties witnessed an uptrend by aboutRs 5.

The prices of whole leaf levelled between Rs 80 and Rs 125 a kg as against Rs 75 and Rs 125. In the broken category, clean well made brokens were sold at firm to dearer rates by Rs 5 a kg with entire category quoting between Rs 75 and Rs 85 a kg. The remainder teas particularly larger teas were sold accordingly with the quality consideration. Fannings saw dearer trend for better variety with overall category selling between Rs 50 and Rs 65 as against Rs 50 and Rs 60 a kg. Exporters operated with improved strength. Fair enquiry from the West Asian shippers was evident. West Bengal buyers also were active in this section.

Dust sale opened to a good demand with 92 per cent being consumed at attractive prices. There were 13,705 packages on offer in this section. A nominal weight of good liquoring dust as well as clean well made sorts were well accepted by the buyers at firm to dearer rates. The remainder teas were sold in line with quality. The Assam dusts were quoted between Rs 90 and Rs 130 a kgshowing an uptrend by Rs 5 in lower level while Dooars quoted between Rs 80 and Rs 98 with an overall gain of Rs 2 to Rs 5 a kg.

Western Indian market once again was seen well active in this section while West Bengal buyers lent good support. The other domestic sections, however, were more or less active. Hind Lever displayed weak performance.

Guwahati sale: Market opened to fair demand at lower levels in the CTC section in the Guwahati sale no 10 held this week. There were 62,853 chests of CTC were offered, of which about 80 per cent was consumed. Selected clean and grainy teas were sold around last levels while remaining Assams eased.

Good purchasing efforts by Hind Lever was evident while Eveready, Tata Tea and Godfrey Phillips remained subdued. Domestic markets were active at lower levels.

Comparatively less demand was witnessed in the dust section of the Guwahati sale with more than 30 per cent teas were left unsold out of an offering of 26,390 packages. Market registered an allround easiness.Only some selected teas of liquoring grades ruled firm.

Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.


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