The Hindu Business Line : Coonoor tea prices continue to fall

WITH the demand remaining sluggish and the volume on offer rising to new highs, the market continued to crash at the weekend sale No. 21 of the Coonoor Tea Trade Association. Arising from the carry forward of some stocks remaining unsold in earlier auctions and the fresh arrivals due to the recent rains, the catalogue showed a massive offer of over 15.68 lakh kg comprising 10.92 lakh kg of leaf and 4.76 lakh kg of dusts.

But demand from exporters and internal traders was sluggish. There was more enquiry at the lower end of the market. With the sellers advising the auctioneers not to sell at low prices, as much as 60 per cent of the offer went unsold. Still, some teas continued to be sold for as low as Rs 26 a kg.

Buyers for Pakistan picked up some clean black teas at around Rs 38.50 a kg. Some shippers for Poland bought Pekoe and some bolder grades for around Rs 33. No other export market was visible.

In the internal market, interest was evident for quality teas with some of them claiming premium prices as well. Thus, Darmona Estate topped with the CTC teas of bought-leaf factories at Rs 82 a kg.

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