The Hindu Business Line : Coonoor tea prices rule steady

The postponement of the fiscal year-end auctions to April 1 has helped the prices to remain steady at sale No. 13 of the Coonoor Tea Trade Association as buyers form the upcountry markets operated more vigorously than in the last couple of weeks.

As much as 90 per cent of the offer was sold off.

The auction was conducted manually to complete the sale of leaf and dust grades on the same day.

Upcountry buyers bought brighter liquoring teas. Hindustan Lever Ltd also supported these teas along with some medium grades.

In the export basket, Iraqi shippers continued to operate for the second week in succession to fulfil their orders to the tune of 20 million kg to be spread over the forthcoming weeks in different centres and for different varieties. They paid around Rs 38-42 a kg.

Russia also began its purchases to replenish the stocks consumed during the harsh winter months.

Here, the exporters paid around Rs 45 a kg for the bolder grades.

Pak picks small volumes

After a gap of over a month, small volumes were bought by Pakistani shippers for around Rs 38.

They picked up only the well-made teas.

Among the CTC teas from the bought-leaf factories, Darmona Estate got the highest price of Rs 79 a kg, followed by Highfield Estate Special Rs 76, Homedale Estate Rs 73, Garswood Estate Clonal Special Rs 72 and Hittakkal Speciality Rs 70.

According to brokers, the bids ranged from Rs 37.50-39 for the plain leaf grades and Rs 62-67 for the brighter liquoring grades.