The Hindu Business Line : Snag hits Coonoor tea e-auctions

THE technical difficulties faced by the tea traders in trading through the electronic auctions last week at the Coonoor Tea Trade Association (CTTA) continued in Sale No. 9 this weekend when a volume of 9.86 lakh kgs was offered.

Meanwhile, the buyers from Western Indian markets stepped up their demand for the better liquoring teas. To that extent, some such teas appreciated in bids. Almost 50,000 kgs fetched over Rs 60 a kg.

On the corporate buying front, Hindustan Lever Ltd (HLL) lent very useful support. Indcoserve was active on the better medium smaller grades.

On the export front, J.V. Gokul and Madhu Jayanthi gave useful support particularly for the bolder liquoring grades. The buyers for Russia and CIS markets were fairly active at around Rs 47 a kg. Iraq buyers chose the medium and plainer grades and paid around Rs 42 a kg. The shippers for Pakistan stepped up their orders and picked up cleaner, blacker and smaller grades at the maximum of Rs 46 a kg. The exporters to Poland bought SBOP, Pekoe and bolder grades for around Rs 39 a kg.

As a result, the fannings grades gained momentum and sold from Rs 4 a kg more than the previous week. "Clean black CTC broken teas fetched Rs 2 a kg more. The smaller brokens and fannings among the plain CTC teas were dearer by Rs 2. Orthodox dusts fetched Rs 4 higher. Plainer CTC dusts were Rs 2 dearer," noted the Market Report.

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