Indian tea prices fall

Prices of CTC grade tea in India, the world's second-biggest tea producer, fell at last week's auction due to poor quality, while prices of dust variety edged up on dwindling supplies. The CTC (crush-tear-curl) grade was sold at 137.16 rupees per kg, down 3.2 percent from the previous week's auction, while the dust variety edged up 1 percent to 139 rupees per kg.
"Supplies of poor quality leaf brought down the average price for CTC. Demand was good," said an official of the Calcutta Tea Traders' Association. The association would not conduct auction this week due to lower supplies, the official said.