Average tea prices in India, the world's second-biggest producer, extended gains at this week's auction as buyers scrambled to secure quality leaf. The CTC (crush-tear-curl) grade leaf was sold at 183.34 rupees ($3.07) per kg, up 1.9 percent from the previous auction, while prices of the dust grade jumped 1.5 percent to 191.70 rupees per kg.
"Big players were actively buying quality leaf. They were willing to pay a premium," said a Kolkata-based dealer. India's tea production in April dropped by a quarter from a year earlier to 56.77 million kg due to a drop in plucking in Assam following extreme dry weather.
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