India tea steady on high demand

Tea prices in India, the world's second-biggest producer, were largely steady at last week's auction as a slight improvement in supplies was countered by robust local demand.The CTC (crush-tear-curl) grade was sold at Rs 143.66 per kg, up 0.45 percent from the previous week's auction, while the dust variety was steady at Rs 149.63 per kg.

"All leading buyers were active in the market. Tata Global Beverages, HUL (Hindustan Unilever Ltd) and Kesaria all bought decent volumes," said a Kolkata-based dealer. Tea plucking in India usually rises between July and October.

The average price of Kenya's top grade Broken Pekoe Ones tea climbed to $3.91 per kg at last week's auction from $3.82 per kg in the previous auction.