The Hindu Business Line : Coonoor tea flat as quality buyers go North

The arrival of the new season crop in North India took its toll at the auctions of the Coonoor Tea Trade Association (CTTA) here on Saturday as the quality-conscious buyers from Gujarat, Maharashtra and Punjab preferred to buy at Siliguri.

"In Siliguri this week, we have bought better liquoring teas for around Rs 100 a kg, good quality ones for around Rs 93 and even the modest ones for Rs 75. So, it is not that we are cutting back on prices, but the fresh season teas there are of high quality right now," a buyer told Business Line.

Leaf varieties graded to be brighter liquoring at Coonoor auctions received only less enquiry and fetched Rs 2 a kg lower. But, the dust sorts of the brighter liquoring grades fetched higher prices of over Rs 5 in some cases.

Exports

On the export front, Russia was active with bolder grades. The exporters paid Rs 2 a kg more than last week.

On an average, they paid around Rs 48 a kg. Pakistan shippers continued to look for blacker smaller grades and paid around Rs 39 for their select purchases.

Iraq buyers disappointed the market as they slowed down their intake contending that there was no urgency to fulfil the orders. They were selective in purchases but paid around Rs 44 a kg.

Consequently, the orthodox leaf grades were down by Rs 4 a kg.

Corporates

On the corporate buyers' front, Hindustan Lever Ltd (HLL) bought medium and better medium sorts. JV Gokal and New Tea Co bought bolder leaf grades. Girnar bought smaller CTC dust grades. Madhu Jayanthi preferred orthodox secondary dusts.

Quotations held by the brokers indicated bids ranging from Rs 38-39 a kg for the plain leaf grades and from Rs 62-67 for the brighter liquoring grades.

For the dust grades, they ranged from Rs 40-41 for the plain teas and Rs 63-71 for the brighter liquoring ones.

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