The Hindu Business Line : Coonoor tea dips

THE 2005 tea auctions of the Coonoor Tea Trade Association (CTTA) opened on a disappointing note for the producers as the prices dropped generally by Rs 4 a kg and sometimes Rs 5 over the concluding sale of 2004.

A volume of 13.83 lakh kg was offered for sale with 10 per cent of this through the e-auctions.

On the corporate front, HLL lent some useful support to the better medium grades. Goodricke and Godfrey Philip India were selective. Tata Tea chose better medium smaller grades. Indcoserve bought some dust grades at around Rs 48 to Rs 55 a kg.

Buyers for the Western Indian markets operated on a strong foot, but they picked up only quality teas Some 40,000 kg of the good liquoring teas were sold for Rs 60 a kg and more.

For the next auctions, a volume of 16.53 lakh kg teas comprising 12.64 lakh kg of leaf and 3.89 lakh kg of dusts has been catalogued.

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