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Orthodox teas, which are mostly exported, are currently fetching Rs 10 a kg lower than this time last year at country's various auction centres.
This week, the best grades orthodox teas fetched Rs 200-280 a kg in North Indian auctions and Rs 90-100 in South Indian auctions. The low-end fannings fetched Rs 95-105 in the North and Rs 50-60 in the South.
The CIS, West Asia, Germany and Japan supported North Indian orthodox teas while the CIS was the major supporter in the South.
Tippy teas
In the North, quality tippy teas remain the favourite with exporters.
“At Kolkata auctions this week, orthodox tea prices averaged Rs 168 – some Rs 10 less than this time last year. But, for the third consecutive week, the ‘second flush' tippy teas sold between Rs 220 and Rs 330 a kg. Partially tippy teas sold between Rs 170 and Rs 200”, Mr Subodh Paul, Director, Contemporary Brokers Pvt Ltd, told Business Line.
“Almost 50 per cent of the present offer belongs to the type which Iran prefers but, we are yet to get the impact of Iran's demand. Besides, the payment position from that country remains uncertain. Unless free rupee trade is opened, prices may not increase. But, the volume on offer is expected to fall by 20 per cent in the next few weeks”, he disclosed.
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