Pak buyers keep tea prices high at Coimbatore auctions

The tea prices at the auctions conducted by the Tea Traders' Association of Coimbatore (TTAC) were buoyant for the third consecutive sale owing to the higher demand from the foreign buyers, especially those from Pakistan.

Pakistani buyers scouted for quality black teas in sharp contrast to the earlier practice of picking up jet black teas.

Similarly, upcountry buyers such as those from Iran were picking up teas to replenish stocks in retail stores, as the supplies from the North East were not adequate to meet their demand.

"For all the demand pressure, the volume had been low due to the frost and the stringent measures taken by the Tea Board to tighten the quality of the tea sold," an auctioneer told Business Standard.

At sale no 6, on February 10, a total of 5.43 lakh kilo was offered for sale and at the previous sale on February 3, 5.27 lakh kilo was offered.

The demand from Iran buyers was active for the orthodox leaf teas that tended firm to be dearer based on the quality. Exporters gave fair support to medium orthodox dusts which fetched Rs 30 "� 36 a kg.

In the CTC leaf category, the market witnessed fewer enquiries from exporters. Liquoring sorts tended firm to dearer with fair support from the major blender and few upcountry buyers.

Good Nilgiris brokens fetched Rs 64 "� 80 a kg. Medium/lesser Nilgiris brokens were sold at Rs 42 - 55 a kg. Good/Best CTC leaf tea brokens and fannings were sold at Rs 48 "� 52 per kg while Medium CTC brokens were sold at Rs 45 "� 60 a kg and fannings sold at Rs 48 "� 51 a kg.

CIS shippers lent fair support to high growns. Iraqi shippers operated at the lower end of the market. Some export enquiry was evident on Medium bolder grades.

Medium CTC Dusts were sold at Rs 48 "� 51 per kilo and Good CTC dusts were offered for Rs 50 "� 60 a kg.

In the last two weeks, the price for all the varieties has gone up by Rs 5 - 10 and is expected to go up in the next sale also owing to the demand on the export front, according to sources.