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P.S. Sundar

Coonoor , Jan. 23

TEA prices rose generally by Rs 3 a kg and sometimes Rs 5 over the last week at the auctions conducted by Coonoor Tea Trade Association (CTTA) when a volume of 12.95 lakh kgs was offered for sale.

The auctioneers attributed three main reasons for the price rise - the reduction of some four million kg in the offer over last week, the improvement in quality arising from winter high grown conditions and the stepping up of demand by both the domestic buyers and the exporters.

That the buyers chose quality teas was evident with the entire volume of around 60,000 kg in the high-price Rs 60 plus category was sold off. Darmona Estate topped the CTC teas of the bought leaf sector with a price of Rs 92 a kg. Highfield Estate came second with Rs 75, while Hittakkal Estate and Garswood Estate got Rs 70.

On the corporate front, Tata Tea, Duncans and GPI refrained from buying, while Hindustan Lever Ltd (HLL) was selective. Indcoserve, which has been operating in the Teaserve auctions alone, has been showing some interest in the CTTA auctions in the last few weeks. This week, it picked up smaller grade better medium dust grades for around Rs 52 a kg.

A number of exporters including Limtex, Girnar and Madhu Jayanthi were seen actively bidding. "Clean black CTC brokens and fannings were dearer by Rs 2 a kg. The low priced plain brokens and fannings were irregularly dearer by Rs 4. The best high grown Nilgiri orthodox dusts were substantially dearer. Other orthodox dusts got Rs 2 more. Plainer dusts were irregularly dearer by Rs 3," noted the market report of the joint brokers.

A volume of 9.5 lakh kg was offered through the electronic auctions. Quotations with the buyers indicated a bid range of Rs 38-40 a kg for the plain dusts and Rs 67-70 for the brighter liquoring ones. For the plain leaf grades, the bid was Rs 34-36, while for the brighter liquoring grades, it was Rs 65-67.

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