While a total of 3.75 million kg was offered in the Kolkata auctions, only 2.7 million kg were sold. Tea sales at auctions dropped by 30% last fortnight, with prices of the commonly consumed black tea declining 6%-8%. If the present conditions prevail, production in the Dooars region of north Bengal, a major tea-growing area, may face a severe setback, affecting overall annual output, too. "The July crop has been affected due to incessant rains in north Bengal. At the Guwahati auction centre, the largest in the country, 4.09 million kg of tea were offered and only 2.75 million kg was sold.Leading packet tea players have not participated at the auctions in a big way, which may be one of the reasons why prices remain depressed, according to AN Singh, managing director of tea firm Goodricke Group.

Source: Economic Times August 01, 2016 05:48 UTC