70th Day Of Lockdown

Maharashtra72300313332465 Tamil Nadu2458613706200 Delhi221329243556 Gujarat17632118941092 Rajasthan92716267201 Uttar Pradesh83615030222 Madhya Pradesh82835003358 West Bengal61682410364 Bihar3945174123 Andhra Pradesh3791241464 Karnataka3408132852 Telangana2891152692 Jammu and Kashmir260194631 Haryana2356105521 Punjab2301200044 Odisha210412459 Assam14862854 Kerala132760811 Uttarakhand9592225 Jharkhand6612965 Chhatisgarh5481211 Tripura4231730 Himachal Pradesh3401186 Chandigarh2972144 Manipur83110 Puducherry79250 Goa73500 Nagaland4300 Meghalaya28121 Arunachal Pradesh2010 Mizoram110 Sikkim100
Business Other News 19 Jul 2019 South Indian tea pri ...

South Indian tea prices plunge as demand flags

DECCAN CHRONICLE. | RITWIK MUKHERJEE
Published Jul 19, 2019, 1:22 am IST
Updated Jul 19, 2019, 1:22 am IST
Besides, it would also help in flushing out bad quality tea from the market.
 Significantly, nearly 50 per cent of the total tea produced in India is sold in auctions and the rest in private sales and the bottom-most price would assure a minimum price recovery for the sellers at the auctions.
  Significantly, nearly 50 per cent of the total tea produced in India is sold in auctions and the rest in private sales and the bottom-most price would assure a minimum price recovery for the sellers at the auctions.

Kolkata: Average prices at the auctions of Coonoor Tea Trade Association nosedived to a new low of Rs 79.10 a kg at sale No. 28. This was some Rs 5 less per kg compared to the previous week. This was the lowest price in the past 12 months. Even at this low price, teas worth Rs 3.92 crore remained unsold as there were no takers for as much as 23 per cent of the offer.

Interestingly, this has happened at a time when the Tea Board of India seems well set to fix a price of Rs 60 a kg as the minimum for South Indian teas which are sold in the auction. The benchmark price for North Indian teas is yet to be arrived at, although the Tea Board is of the view that the minimum price for teas produced in the Assam-West Bengal-Himachal Pradesh belt cannot be lower than Rs 90 a kg. At present, the Tea Board is in talks with various associations in North India to decide on the lowest possible price for teas produced in this belt.

 

Significantly, nearly 50 per cent of the total tea produced in India is sold in auctions and the rest in private sales and the bottom-most price would assure a minimum price recovery for the sellers at the auctions. Besides, it would also help in flushing out bad quality tea from the market.

During the January-May 2019 period, tea production in North India was up by nearly 15 per cent at nearly 247.3 million kg. The nearly 15 per cent rise in tea production in North India has sent CTC prices on a downward spiral. The price decline is more pronounced in high quality Assam tea, compared with the low to medium categories of tea.

...




ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT