MUMBAI: Tea prices in India, the world’s second-biggest producer, jumped at last week’s auction on robust demand from local buyers for good quality new season crop.

The CTC (crush-tear-curl) grade was sold at 154.51 rupees per kg, up 11 percent from the previous week’s auction, while prices of the dust variety surged 28.5 per cent to 167.76 rupees per kg.

“Supplies have started from the new season crop, which is better than last year’s end season supplies,” said an official of the Calcutta Tea Traders’ Association.

“Local buyers were waiting for the new season crop and they are ready to pay a premium due to concerns over production.”

India exports CTC tea mainly to Egypt, Pakistan and the UK, and the premium orthodox variety to Iraq, Iran and Russia.

More From This Section

Dar’s statement helps dollar gain 1pc

Dar’s statement that the dollar will be kept around Rs98 to support the export industry created panic-like situation.

Ecnec okays Rs62bn projects

The Executive Committee of the National Economic Council has approved Rs62 billion worth of development projects.

Cotton output rises to 13.39m bales

Figures compiled by CGA, Aptma and KCA during outgoing fortnight show around 4,953 cotton bales reached ginning units.

OICCI seeks integrated tax collection

The OICCI has asked Sindh to integrate all revenue collection under one roof and also raise tax from agriculture sector.

Comments are closed.
Explore: Indian elections 2014
Explore: Indian elections 2014
How much do you know about Indian Elections?
How much do you know about Indian Elections?
From The Newspaper