Indian tea prices fall

Average tea prices in India, the world's second-biggest producer, extended losses at last week's auction on lower supplies of premier quality leaf. The CTC (crush-tear-curl) grade leaf was sold at 167.69 rupees per kg last week, down 3 percent from the previous auction, while prices of the dust grade dropped 6.2 percent to 171.58 rupees per kg. "Supply of premier quality leaf was lower than last week. It brought down average prices," said a Kolkata-based dealer.