Financial Daily from THE HINDU group of publications
Thursday, Sep 01, 2005
Financial Daily from THE HINDU group of publications Thursday, Sep 01, 2005 |
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Agri-Biz & Commodities
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Tea Coonoor tea average prices at 11-year low P.S. Sundar
Coonoor , Aug 31 THE average prices at the auctions conducted by the Coonoor Tea Trade Association (CTTA) are ruling at 11-year low. The average price at the last week auctions was Rs 29.62 a kg. Last year, the prices averaged Rs 45.37. The last time prices dipped below Rs 29 was in 1994 when the yearly average was Rs 27.79. For a couple of weeks in early July this year, prices declined to the Rs 29-mark, but picked up to Rs 30 - 31later. Compared to last year, there has been a steep fall in prices of CTC and orthodox varieties. While CTC tea fetched around Rs 15 lower to dip to Rs 29, orthodox teas were Rs 19 lower to dip to Rs 39. Leaf prices averaged Rs 28.79 a kg this year (Rs 45.20). The dust prices fetched Rs 32.07 a kg (Rs 45.75). The cumulative average price till mid-August this year was Rs 37.39 a kg (Rs 39.69) and this was the lowest in the last two years. So far 2.76 crore kg of teas had been sold (2.61 crore kg). Whenever the producers demanded more prices or refused to sell below allowable levels, the teas were withdrawn week after week and re-catalogued in subsequent auctions further pulling down the prices. The technical snags in the e-auctions also forced lowering of prices.
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