The Hindu Business Line : Tea prices rule low at Coonoor auctions

PRICES continued to rule low at the auctions of the Coonoor Tea Trade Association during the weekend, when a volume of 18.82 lakh kg was offered for sale.

While some dust grades continued to hit the lowest price of Rs 20 a kg, for the first time, some leaf grades were also sold at this new low price.

Among corporate buyers, Hindustan Lever Ltd bought the better medium sorts. Tata Tea operated on the lower end of the market. J.V. Gokal picked up bolder grades.

For the internal market, Defence buyer came to help, but the price level was low.

. Medium dusts were sold when we reduced the prices by Rs 2 a kg. On the export front, the buyers for Iraq bought teas at Rs 26-29 a kg. The buyers for Pakistan picked up clean black teas for around Rs 31. Among the CTC teas from bought leaf factories, Highfield estate got Rs 71, while Vigneshwar Estate got Rs 67 and Hittakkal estate Rs 64. Quotations held by brokers indicated a price range of Rs 20-22 a kg for the plain dusts and Rs 57-70 for the bright liquoring teas. Plain leaf grades carried bids ranging from Rs 20-23, while the bright liquoring leaf grades were Rs 55-64.

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