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Good demand fails to stem price dip at Calcutta tea sale 

Baren Bhattacharya  
Calcutta, Nov 19: There was good demand for all categories of teas at the auction no 46 in Calcutta, but prices slid considerably from past levels. Only few well made teas that retained quality ruled firm at past levels. Past few weeks saw a continuous fall in prices due to decline in quality.

In the CTC section, 51,481 packages were offered against 43,426 in the past sale. However, demand continued to be strong with 90 per cent being sold. A nominal weight of best variety Assam category CTCs were sold at past levels between Rs 95 and Rs 103 a kg while remaining teas in all categories including good and medium Assams and Dooars fell by Rs 2 to 4 a kg.Secondaries settled below Rs 42 a kg.

Hindustan Lever operated with fair strength, while other packeteers lifted selected lines. Western Indian buyers and other domestic consumers lent good buying support at lower levels. Export enquiry was confined to better teas.The Darjeeling sale (4588 packages) saw good demand but prices for all grades fell compared to past levels. Selected pekoe and tippy whole leaf teas fetched reasonable prices and attracted Continental and UK shippers. Few improved brokens fannings also sold at last levels and were lifted by the exporters.

West Bengal operators however, opted for common and medium brokens and fannings at slightly lower rates.

Whole leaf quoted between Rs 120 and 200 per kg and brokens maintained between Rs 120 and Rs 160 a kg while fannings quoted between Rs 125 and Rs 150 a kg against Rs 130 and Rs 150 per kg.

Demand improved for 4,492 chests of orthodox teas with offtake increasing to 90 per cent from 75 per cent last time. Well made whole leaf continued to rule firm, while remaining prices slid. Some smaller brokens fannings saw good enquiry from overseas buyers and sold at slightly lower levels.

CIS and Middle East shippers were fairly active. Continental shippers, however, operated on selected lines with West Bengal buyers supporting for fannings and cheaper rated teas.

Of a total of 16,689 packages of dusts teas, 95 per cent was consumed. Except a few selected best Assam dusts which ruled around last levels, prices of all other teas suffered a setback.

Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.

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