The Hindu Business Line : Downtrend continues at Coonoor tea sale

THE falling trend in prices continued this weekend when a volume of 12.07 lakh kg of teas were offered for sale at the auctions conducted by the Coonoor Tea Trade Association (CTTA).

While the domestic buyers were selective, the exporters virtually absented themselves from the pressurised market.

There was no purchase for West Asia which some buyers attributed to the on-going Ramzan fast. There was some support from Iraq, but CIS showed subdued interest. Pakistan picked up the teas for Rs 52 a kg. On the corporate front, Hindustan lever Ltd (HLL) supported some teas. Tata Tea, however, re-entered the market for the better medium smaller grad dusts. But Goodricke, Duncans and GPI restrained from buying.

"The orange Pekoes were tending easier and most went unsold. Clean black CTC leaf brokens eased up to Rs 2 a kg. Plainer brokens and fannings managed to be steady and very little was sold below Rs 40 a kg. The best high grown orthodox BOP dusts were firm, but other Orthodox dusts lost Rs 2 a kg. Some CTC dusts lost up to Rs 2. Plainest eased up to Re 1,"

noted the market report of the joint brokers.

Quotations held by brokers, however, indicated that the lowest offer for the plain dusts ranged from Rs 38-39, while the highest offer range was Rs 58-62 a kg for the brighter liquoring ones. The lowest range for leaf grades was Rs 38-40 for the plain and the highest was Rs 61-65 for the brighter teas .

Among the CTC teas from the bought leaf factories, few lines of Darmona Estate teas were sold for the highest price of Rs 74 a kg, while Hittakkal Estate fetched Rs 67. In all, only about 5,000 kg could be sold for more than Rs 65 a kg.

For the next auctions, a volume of 11.46 lakh kg comprising 8.63 lakh kg of leaf and 2.83lakh kg of dusts has been catalogued.