Tea prices likely to cool down

After falling for three weeks in succession, prices at Coonoor Tea Trade Association's auction this week could stabilise, industry players said.

Last week, exporters to Pakistan and Kenya bought plain teas at about Rs 40 per kg. They could continue buying at these levels this week too, an industry player said.

Last week, plain teas were bought between Rs 39-42 per kg, down from the previous week's Rs 41-46.

With exporters limiting their buying, medium teas were also down. They were bought between Rs 39-44, from the earlier week's range of Rs 44-50.

The industry player said Hindustan Lever was an active buyer in dust category but was selective in leaf.

Demand from buyers from Maharashtra and Gujarat was also down.

As a result, brighter liquoring varieties were down to Rs 58-67, from Rs 64-72.

Good medium fell to Rs 42-44, from Rs 49-55 levels.