"High grown prices remain below the corresponding sale prices of 2011. Although we have seen a growth year-on-year in rupee terms, we remain below the corresponding prices of 2011 in US dollar terms."
The weekly auction average for the last sale of 396.54 rupees a kilo (3.06 US dollars) for the second consecutive week was higher than the corresponding sale average of 2011 of 373.27 rupees (3.35 dollars), the brokers said.
The average for teas grown at medium elevations of 358.36 rupees a kilo (2.27 dollars) was up 4.72 rupees compared with 353.64 rupees (3.18 dollars) in 2011.
"Low growns too totalling 418.72 rupees a kilo (3.23 dollars) show a significant gain of 37.78 rupees vis-a-vis 380.94 rupees (3.42 dollars) of 2011," the brokers said in a report.
However, the auction average price for high grown teas of 357.70 rupees (2.76 dollars) was 8.42 rupees lower than the 366.12 rupee average (3.79 dollars) the year before.The rupee has sunk to 125-130 levels against the US dollar after the government devalued the currency in November 2011 and then allowed a partial free float in February 2012 to stave off a balance of payments crisis.