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Indian tea prices steady; winter season demand eyed
October 7, 2013 / 10:39 AM / 4 years ago

Indian tea prices steady; winter season demand eyed

MUMBAI, Oct 7 (Reuters) - Tea prices in India, the world's
second-biggest producer, were steady at last week's auction as
the participation of buyers and sellers dropped in the two-day
sale.
    Tea auctions are usually carried out for three to four days
in a week, but the last auction was curtailed due to a national
holiday.
    The CTC (crush-tear-curl) grade leaf was sold at 148.23
rupees per kg last week, up 0.62 percent from the previous
week's auction, while the dust grade fell 1.4 percent to 147.45
rupees per kg.
    "Tata Global Beverages provided the crucial support to the
market. It was buying actively as the winter season is
approaching," said a Kolkata-based dealer.    
    Demand for tea usually rises in the winter season which
begins in November. Tea plucking in India usually picks up
between July and October.
    India's tea production in August rose 2.2 percent from a
year earlier to 154.26 million kg, as the shortfall in output in
the southern states was offset by higher plucking in key
north-eastern states. [ID: nL4N0HX0P9]
    
    Prices at the latest auction (Sept 30-Oct.1)
    Quantity in kg; price in rupees per kg) 
--------------------------------------------------------------
Variety    Offered quantity     Sold quantity   Average Price 
---------------------------------------------------------------
CTC Leaf      2,457,098           1,844,594         148.23
CTC Dust       1,165,721           896,625          147.45

    Prices in the previous auction (Sept 24-26)
--------------------------------------------------------------
CTC Leaf      3,272,034           2,480,752         147.32 
CTC Dust      1,536,167           1,317,947         149.57 

    Source: Calcutta Tea Traders' Association        

 (Reporting by Rajendra Jadhav; Editing by Subhranshu Sahu)

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