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P.S. Sundar

Coonoor , Nov. 8

PRICES declined at the auctions of the Coonoor Tea Trade Association compared with the previous week as the quality of the offerings declined.

Demand was absent when the volume of 11.46 lakh kgs were offered for sale.

The auctioneers found it difficult to sell teas above Rs 65 a kg. "We were happy to see Hindustan Lever Ltd (HLL) operating in the leaf grades, but certainly, the company held much lower price ideas than the sellers for the high-end teas," an auctioneer said. HLL supported better medium and medium grades.

Only less than 20 per cent of the teas offered in the high price category could be sold.

On the corporate front, besides the HLL, GPI lent some useful support for the leaf grades. Tata Tea picked up some dust grades for around Rs 53 a kg - some Rs 2 lower than last week. Duncans and Goodricke were absent. HLL also refrained from buying in the most sections of the dust grades.

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