Indian tea prices fall

Average tea prices in India, the world's second-biggest producer, edged lower at last week's auction on a drop in supply of premier grade leaf, though demand was healthy from domestic players. The CTC (crush-tear-curl) grade leaf was sold at 147.20 rupees per kg last week, down 3.4 percent from the previous auction, while prices of the dust grade edged up 1 percent to 154.15 rupees per kg.
"Domestic demand was good. Supply of superior quality leaf that can be sold over 200 rupees has gone down. That's why average prices have fallen," said a Kolkata-based dealer.