The Hindu Business Line : Coonoor tea prices up

PRICES generally rose Rs 3 a kg over the previous week at the auctions of the Coonoor Tea Trade Association (CTTA) here when a volume of 8.4 lakh kg was offered for sale.

The bottom levels showed improvements and the prices, which ruled around Rs 20 a kilo a few months back, rose to Rs 28.

This was the lowest volume for the year. Although the volume had fallen below 10 lakh kg five times so far, this was the first time this year that the volume drifted to less than 9 lakh kg. With the North Indian teas reaching the end-season offer, the buyers from the North also stepped up their intake at the Coonoor auctions.

Of the 8.4 lakh kg on offer, 5.74 kg belonged to the leaf grades and the remaining 2.66 lakh kg the dust grades. As much as 7.53 lakh kg belonged to the CTC variety and only the balance 0.87 lakh kg, the orthodox variety. Among the leaf grades, only 0.39 lakh kg belonged to the orthodox and among the dust grades, only 0.48 lakh kg. All the rest were CTC teas.

"Not only the brighter liquoring teas were dearer, but the plain and medium teas fetched Rs 2 a kg more. The clean black grainy medium dusts benefited from the strong export demand and sold dearer by Rs 3 akg, while others were dearer by Rs 2", an auctioneer said.

The buyers for Pakistan were forceful and paid up to Rs 40 akg. Iraq buyers picked up bolder grades for up to Rs 39.

Among the corporate buyers, Hindustan Lever Ltd (HLL) showed interest on the better medium teas. Quotations held by the brokers indicated bids ranging from Rs 28 to 31 for the plain leaf grades and Rs 54-60 for the brighter liquoring teas. For the dust, the bids were Rs 30-32 a kg for the plain teas and Rs 57-60 for the brighter liquoring teas.

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