• Investment World
• eWorld
• Catalyst
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Port Info

• Ships in Ports
  
  

Archives

• Yesterday
• Datewise
• Resources

Group Sites

• The Hindu
• Business Line
• The Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

P.S. Sundar

Coonoor , May 23

HUGE offer, sluggish demand, sharp price decline and heavy withdrawals marked the tea auctions conducted by the Coonoor Tea Trade Association this week end. Prices of many teas dropped to new lows.

Demand was far low for the huge volume of 15.48 lakh kg, comprising 10.53 lakh kg of leaf and 4.95 lakh kg of dusts.

Among corporates, Hindustan Lever Ltd and J.V. Gokal were very selective, while others such as Tata Tea, Duncans, GPI and Goodricke did not buy at all. Even the Indcoserve, which picked up some dust grades for its "Ooty Tea" project in the recent weeks, refrained from buying now.

On the export side, there was some enquiry for Pakistan for the limited volume of blacker, grainer type at around Rs 42 a kg. With the prices dropping, the buyers for Poland picked up some plainer and medium teas between Rs 26 and Rs 32. There was no purchase for any other market.

The buyers for the Gujarat, Maharashtra and Punjab markets complained of a general decline in quality. The buyers also said in the declining market with huge offers on card, the prices would drop further.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
NCDEX sets record in physical deliveries

Copyright © 2005, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line