The Hindu Business Line : Coonoor tea prices drop

Most grades of the teas offered for sale at Sale No: 22 of the Coonoor Tea Trade Association (CTTA) here yesterday fetched a lower price compared to the previous week as the demand was inadequate to push the bids higher. In general, prices dropped by Rs 2 a kg.

Although the volume of 10.97 lakh kg offered was some 1.62 lakh kg lower than the previous week, the demand was not widespread at higher levels on the export and domestic fronts.

"The brighter varieties of CTC leaf got good demand and invoices exposing improved varieties fetched higher prices on competition. The better medium grades sold irregularly based on quality. The medium sorts declined by Rs 2 a kg. The fannings lost even more. Plainer teas lost Re 1. Liquoring bolder grades lost Rs 2. Plainer sorts in this type suffered withdrawals," said an auctioneer.

CTC dust improves

Primary orthodox dusts and improved secondaries sold dearer on competition, but the high-priced teas lost Rs 3 a kg. Powdery sorts were barely steady.

But, the CTC dust market showed improvements. Bright liquoring grades were dearer. The finer sorts gained up to Rs 4 a kg. Here again, the medium and the plainer grades lost Rs 2.

On the export front, Pakistan lent fair support to the clean, black, smaller brokens and fannings. CIS shippers were selective. The buyers from western India were active on the range of liquoring teas.

Quotations held by the brokers indicated bids ranging from Rs 39 to 40.50 a kilo for the plain leaf grades and Rs 63-72 for the brighter liquoring grades. The bids for the plain dusts ranged from Rs 40.50-42 while for the brighter liquoring dusts, Rs 65-72.