The Hindu Business Line : Plainer teas find favour at Coonoor sale

THIS week, the market was tilted in favour of the plainer teas when 13.5 lakh kg were offered for the auctions conducted by the Coonoor Tea Trade Association (CTTA). By and large, such teas fetched Rs 3 a kg more than the previous week.

But, the brighter liquoring teas suffered some price declines. "There was only a limited enquiry from the upcountry buyers. Hindustan Lever Ltd (HLL) had lower price ides", an auctioneer told Business Line. Generally, HLL operated on a wide range, but Tata Tea and Duncans did not operate. GPI was selective.

On the export front, Pakistan did not buy at all. CIS and Poland picked up some bolder grades for a price of around Rs 42 a kg. But the buyers for Russia said that they were out-priced. Kenyan buyers showed limited enquiries, but paid around Rs 47. There were some purchases for Iraq at Rs 42.

With the cash crunch easing following the deliveries of the pending purchases, upcountry buyers for Gujarat, Punjab and Maharashtra were active. But, they were heard complaining of a fall in quality. Among the CTC teas of the bought leaf factories, Darmona recorded the highest of Rs 82 a kg. Highfield and Sree Ram Supreme got Rs 73. Hittakkal Estate and Vigneshwar Estate, Rs 71.

On an average, plain dust grades got Rs 43 a kg, while the brighter liquoring teas got Rs 71. Plain leaf grades got Rs 40, while the bright liquoring sorts got Rs 71.

For the next auctions, a volume of 11.82 lakh kg comprising 8.61 lakh kg of leaf and 3.21 lakh kg of dusts has been catalogued, the market report of the joint brokers noted.