Business Daily from THE HINDU group of publications
Friday, Aug 04, 2006
Business Daily from THE HINDU group of publications Friday, Aug 04, 2006 |
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Agri-Biz & Commodities
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Tea Coonoor tea auctions volume hits 13-week low P.S. Sundar
Coonoor , Aug. 3 A volume of 10.22 lakh kg offered for sale this week at the auctions of the Coonoor Tea Trade Association (CTTA) is the lowest in the last 13 weeks. The volume is marginally lower than the level of 10.52 lakh kg offered last week. Of the 10.22 lakh kg, as much as 7.04 lakh kg belong to the leaf grades and the remaining 3.18 lakh kg dust grades. Some 9.63 lakh kg belonged to the CTC variety, with only 0.59 lakh kg belonging to the orthodox variety. Even among the leaf grades, only 0.22 lakh kg belonged to the orthodox variety; the bulk of 6.82 lakh kg belonged to the CTC variety. Among the dust grades, orthodox teas account for only 0.37 lakh kg, with the CTC variety accounting for the major share of 2.81 lakh kg.
Production dip
The volume has been falling due to fall in production on adverse weather conditions last month. But there has been a general rise in the quality of the tea produced, as the factory owners are able to concentrate on quality with the manageable volume. Last week, because of the low volume the demand could absorb the teas at higher bids. In general, prices rose Rs 2 a kg. Internal buyers posed stiff competition to pick up the lower volume on offer, helping the prices to look up. So, exporters could not bid low.
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