Tea prices firmed up by Rs 2 to Rs 4, following good demand from exporters in the Coimbatore tea auction yesterday, trade sources said.
In the leaf category, the prices were dearer by Rs 2 to Rs 4 for orthodox, while CTC fetched an increased price of Re 1 to Rs 2.50, depending on the quality, they said. While orthodox dust quoted Re 1 to Rs 2 higher, the CTC firmed up by Rs 2 to Rs 4.
The orthodox leaf rates fluctuated from Rs 58 to Rs 92 per kg and dust between Rs 56.50 and Rs 70, the sources said. A total of about 3.58 lakh kg were offered, of which dust accounted for about one lakh kg.
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Trade sources in Kochi feel that the prices have started showing signs of reaching record levels, thanks to the increasing export demand following a fall in the world tea production.Most of the manufacturers have started concentrating on increasing the out put of leaf tea with a view to meet the increasing export demands.
This has resulted in dust tea prices in the domestic market increasing considerably, they said.