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Tea prices are ruling lower compared with last year at South Indian and North Indian auction centres, reveals an analysis of the latest data available with Tea Board and auction centres.
In January, all-India auction average prices dropped to ₹112.69 a kg from ₹121.05 in January 2013, marking a decline of 6.61 per cent.
North Indian price average fell to ₹120.23 ( ₹128.58) and South Indian price average dropped to ₹91.11 ( ₹100.84).
Export demand was weak in January in the context of global oversupply and disturbances in trade due to prolonged snowfall in the US, CIS, rest of Europe and Japan as also floods in the UK.
North Indian auctions passed through low volumes due to winter closure forcing upcountry buyers to shop in South but this did not push up prices in South Indian auctions because of inadequate competition from exporters. The absence of the much-needed marketing initiative resulted in South Indian auctions losing ₹10 on every kg compared to January 2013 despite thin offerings in the North.
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