The Hindu Business Line : Low attendance hits Coonoor tea sales

"There was low attendance of the buyers. Their participation in the bidding was weak. Bids received were far below the last prices for majority of the teas," recorded the Market Report of the Joint Brokers.

An auctioneer told Business Line that in some cases, the offers were as low as Rs 15 a kg.

The Market Report said in its outcry sale which it styled as "the regular Sale No: 47", for the 14.19 lakh kg of offer, very few exporters operated. "Wherever available, we picked up and paid up to Rs 52 a kg," a buyer for Pakistan market said.

CIS and Poland bought some bolder grades for Rs 40 a kg, but the purchases were low in volume. There was some purchase of the dust grades for Kenya.On the domestic front, Hindustan Lever Ltd (HLL) selected the bolder grades and supported the market up to Rs 60 a kg. Tata Tea picked up some better medium grades for around Rs 52. said.

Likewise, there was a demand for the low priced plain teas. "The better liquoring CTC brokens and fannings lost Rs 1 a kg. Clean black leaf brokens and fannings were down by Rs 2. The plainer brokens also lost Rs 2 and the plainer fannings Rs 1. Better liquoring CTC dusts, however, fetched Rs 2 more," the Market Report noted.