Tea prices weaken at Kolkata auction

Prices of all tea varieties were slightly weak at the auction held here last week on improved supply, traders said.

CTC tea saw local demand, but Darjeeling and orthodox grades attracted the attention of exporters, they said. Prices had risen at the previous two auctions on poor supply due to drought-like situation in March and April.

The total offering at the tea auction increased to 45,095 packages last week, compared with 33,147 packages offered in the previous auction held on May 29, an official of Kolkata Brokers' Joint Statistics Department said.

Prices of all varieties of CTC tea softened, as arrivals increased to 28,149 packages from 19,890 packages at the previous auction.

Buyers from western India were active in liquoring tea varieties.

Large brokens and well made fannings witnessed good support from exporters. Tata Tea was active, but in select varieties.

Darjeeling tea witnessed demand from traditional exporters, but prices fell slightly on poor quality, an auction participant said.

The price of whole leaf tea in this category was down following the decline in quality and poor demand, but brokens and fannings were readily bought at lower levels.

Orthodox tea met with good demand from buyers from West Asia and Commonwealth of Independent States. A nominal quantum of tippy tea was sold at attractive rates, but others were weak on poor quality.

In dust category, prices were firm around previous week's levels on good demand from tea-packaging firms, a major blender, and buyers from western India.