The Hindu Business Line : Teas turn dearer in Kolkata, Guwahati

Kolkata June 18 CTC (crushed tear curl) tea markets in Kolkata and Guwahati saw good demand for improved ones on offer, which were firm on last week's levels, and often appreciating following quality, while at Siliguri, the demand was good with prices ruling barely steady, according to J Thomas & Company Pvt Ltd, the tea auctioneers. The domestic markets continued to be the mainstay.

Orthodox teas continued to meet with strong export inquiry at dearer rates, with tippy varieties appreciating significantly. Markets in West Asia and Iran operated strongly with good support from CIS buyers. Selective inquiry from the continent was also evident. Darjeeling teas witnessed good demand at around last levels. Selected improved teas appreciated.

P.S. Sundar reports from Coonoor: Quality teas fetched higher prices even as the plainer ones suffered from lower bids as the volume shot up to a five-month high level of 9.39 lakh kg at Sale No: 24 of the auctions of the Coonoor Tea Trade Association (CTTA) here last week yesterday.

For the fifth consecutive week, Darmona Estate, auctioned by J. Thomas and Co, continued to post Rs 100-plus bids. This week, it fetched the highest price of Rs 108 a kg kg — just Rs 2 lower than its own record created last week. This week, a number of brands of quality CTC teas of bought leaf factories fetched more than Rs 80 a kg. There was increased purchase for the CIS market at Rs 43 to 44 a kg kg. Pakistani shippers paid Rs 42 to 44. Exporters said that because of the rupee becoming stronger against dollar, their earlier quotes caused disturbance in billing pattern.