The Hindu Business Line : Good demand at Kolkata tea auction

Last week (i.e. the week ended July 14), CTC offerings at the three North Indian auction centres at Kolkata, Siliguri and Guwahati met with a good general demand at irregular rates following quality, according to J. Thomas & Company Pvt Ltd, the tea auctioneers.

Good and best sorts continued to receive support from the western Indian buyers with the highest price reaching Rs 142 per kg.

Medium and plainer teas tended easier. The major blender operated selectively. Some export interest was evident for larger brokens and fannings.

Orthodox varieties continued to be well received with good inquiry from the West asia including Iran and the CIS countries.

The buyers for the Continent operated for better teas which received attractive prices, the highest being Rs 3,150 per kg.

Darjeeling teas saw good demand with price levels following quality. The traditional exporters continued to operate with strength. The top price recorded was Rs 1,620 per kg.

CROP PROSPECTS

Very hot weather that prevailed in the tea growing areas of Assam affected the crop in many districts.

INTERNATIONAL SCENARIO

The Sri Lankan markets saw improved demand at all round dearer rates, while the Kenyan teas at the Mombasa auctions sold at firm to dearer levels.

The exports of the North Indian teas between January and May stood at 30 million kg, about two million kg higher than the previous year.

However, the overall exports of the Indian teas during the period were 62.3 mkg as compared to 67.8 mkg. The drop is entirely attributed to the South Indian varieties.