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Indian tea prices extend losses

Average tea prices in India, the world's second-biggest producer, extended losses at this week's auction on sluggish demand and lower supply of premier quality leaf. The CTC (crush-tear-curl) grade leaf was sold at 147.45 rupees ($2.33) per kg this week, down 4.6 percent from the previous auction, while prices of the dust grade dropped 2.5 percent to 148.93 rupees per kg.

"Supply of poor quality leaf has been rising. It is pulling down the average price, but prices are ruling firm for good quality tea," said a dealer based in the eastern city of Kolkata.

Copyright Reuters, 2015


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