The Hindu Business Line : Prices drop at Coonoor tea sales

PRICES dropped Rs 2 to 3 a kg over the previous week, when a volume of 16.54 lakh kgs was offered for sale at the auctions of the Coonoor Tea Trade Association (CTTA) here during the weekend.

Exporters helped in improved off-take. There was around 10 per cent increase in the purchases for exports. Pakistan buyers bought jet black grades for up to Rs 40 a kg.

Exporters to CIS markets picked up bolder grades for around Rs 28. There was some buying for Poland up to Rs 24.

On the corporate buying front, Hindustan Lever Ltd (HLL) supported better medium grades. Tata Tea, Duncans, GPI and Goodricke did not operate. Indcoserve also did not buy.

Prices of some leaf and dust grades continued to rule Rs 20 a kg - the lowest price for the year recorded in the past few weeks. Of the 16.54 lakh kgs on offer, only around 4,000 kgs fetched more than Rs 60 a kg. Quotations held by brokers indicated bids ranging from Rs 20 to 23 a kg for the plain dust grades and Rs 62 to 70 for the bright liquoring gradesBids ranged from Rs 20 to 23 for the plain leaf grades and Rs 51 to 58 for the bright liquoring grades.

For the next auctions, a volume of 15.09 lakh kgs comprising 11.12 lakh kgs of leaf grades and 3.97 lakh kgs of dust grades has been catalogued.

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