Indian tea prices fall

August 06, 2013

India teaTea prices in India, the world’s second-biggest producer, edged lower at last week’s auction on higher supplies of medium grade tea and weak demand from local buyers. The CTC (crush-tear-curl) grade was sold at 143.75 rupees per kg, down 2.2 percent from the previous week’s auction, while the dust variety was sold at 155.27 rupees per kg, down 1.23 percent.

“Demand was weak. Tata Global Beverages was active, but HUL (Hindustan Unilever Ltd) was nearly absent in the market,” said a Kolkata-based dealer. “Exports demand was also weak for CTC. Exporters are facing tough competition from Kenya,” he said. The average price of Kenya’s top grade Broken Pekoe Ones tea dipped to $3.88 per kg at last week’s sale from $3.90 at the previous one, trader Africa Tea Brokers said. Courtesy Reuters

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