Kolkata: Contrary to fears, the earthquake in Gujarat, which took hundreds of lives and destroyed properties worth several thousand crores of rupees, had little impact on the purchase of tea at the Kolkata auctions this week. Gujarat has always been one of the few bulk takers of good liquoring and quality CTC and dust teas at auctions and this week too was no exception.
According to an official in a leading broking house in Kolkata, there were speculations that Gujarat buyers might not operate with the same strength as they used to do due to absence of normal trading atmosphere in the quake-ravaged state. Consequently, there was a fair chance of an abrupt fall in prices. But this did not happen save a slight fall in offtake and prices.
The local tea sale no 5, meanwhile, recorded a firm note in prices following fair demands from the buyers for all teas.
At the CTC section, where 45,199 packages were offered for sale, demand was a bit low and 75 per cent of teas were sold. The good and best liquoring Assam brokens tended slightly easier than the past levels of Rs 95-110 while all other teas slid by Re 1-2 a kg. Dooars teas, on the other hand, almost maintained at past levels.
Hind Lever along with one packet and Gujarat-Maharashtra buyers were active takers. The local dealers lent worthwhile support with CIS absorbing bolder brokens. The Darjeeling sale with an offering of 4113 chests met with good demand with prices of a few `autumnal touch' lines showing a steep rise at Rs 305-405 per kg. Remaining teas in whole leaf, brokens and fannings were selling at past levels displaying a firm note. General whole leaves were quoted at Rs 160-300 per kg, while good and medium brokens were selling at Rs 150-180 a kg showing a rise by Rs 20 per kg for better varieties.
Fannings tended dearer quoting at Rs 100-120 per kg. The major consumers of Darjeeling teas were the local buyers with better lines absorbed by traditional exporters.
There were good demands for 26,346 chests of orthodox teas offered at the sale and out of this more than 85 per cent was sold. A few selected well-made tippy varieties sold well at last levels - between Rs 100-145 a kg. The remaining were irregularly lower with stalky sorts remaining almost unsold.
Iran shippers and North Indian buyers were the mainstay in the sale while local dealers absorbed fannings varieties. The market opened to a good demand for 22,608 chests of dust teas with 80 per cent being absorbed by the markets. The end-season low quality could not attract better prices, selling at irregularly lower rates.
Hind Lever was active taker with fair support from the Maharashtra and local traders. Tata Tea operated for selective lines. The volume of teas offered saw significant fall in the Guwahati sale no 5. Around 54,523 chests of CTC teas were put up for sale as against and average offering of 1,00,000 packages.
Copyright © 2001 Indian Express Newspapers (Bombay) Ltd.