Sale 7 | Ep 105 | 18 Feb 2023
- Assam Branch of the Indian Tea Association holds Annual General Body Meeting.
- Frost-induced damage at Kanan Devan Hills Plantation Ltd. in Munnar was reported to be severe.
India Price Watch
By Aravinda Anantharaman
The 132nd Annual General Meeting of the Assam Branch of the Indian Tea Association was held at Jorhat on 18th February. Chairperson Nayantara Palchoudhuri spoke at the event and highlighted the industry’s problems. While exports and prices increased marginally in 2022, Palchoudhuri was quoted as saying that a further increase in production is not an option. Instead, an increase in prices and a sustained emphasis on quality is necessary. She added that introducing a minimum floor price could facilitate fair discovery. East Mojo
Sale 7 saw 5,231 tons of tea, with 79% sold. The top 3 grades remain BP, followed by BOPSM and BOP. North India saw better demand this week for orthodox tea, with 90% sold for an average price of Rs 160. CTC also saw improved sales with 82% sale volume. Some Darjeeling on offer was picked up. Prices improved over last week, except for Darjeeling. The Middle East continued to be active for Exports in Kolkata.
Tea Price charts, courtesy TSigma Consultancy
The south Indian auctions saw a decrease in sales from the previous week. Prices were largely unchanged. Kanan Devan Hills Plantation Ltd. in Munnar has reported an expected decline in yield as the recent frost attack has caused the company’s wilting of tea plants across 550 hectares. Media reports say that the last time this extent of damage was seen here was in 2014, when 800 hectares of tea bushes were destroyed by frost.
Weather & Climate Change
The weather in Upper Assam is forecast to be mostly cloudy with light to moderate rainfall. Darjeeling is expected to see some rainfall. No rainfall is predicted in the Nilgiris. Munnar saw sub-zero temperatures again last week, which, coupled with higher daytime temperatures, destroyed tea crops.