The Hindu Business Line : Quality teas rule at Coonoor sale

This was the 32nd auction for the year. The volume was a 14-week low except for the marginally higher level of last week. Still, prices did not shoot up because buyers - both exporters and domestic - selected only quality teas.

"The market was good for good teas and bad for others. In most cases, buyers refused to pay more for plainer and medium teas," an auctioneer told Business Line.

Accordingly, the brighter liquoring teas valued at Rs 60 plus a kg, fetched around Rs 3 a kg more than the previous week. Since the volume of such teas was low, there was an increased competition to pick the best possible ones.

Among the medium grades, the popular marks got steady bids, but others as also the plainer ones suffered a decline of Rs 3 a kg over the previous week.

Karnataka traders supported orthodox dust grades. Buyers for Maharashtra markets also stepped up their intake contending that the floods have receded there. But, the suppliers to other flood-hit States reduced their purchases.

Quotations held by the brokers indicated bids ranging from Rs 40-41 a kg for the plain leaf grades and Rs 60-67 for the brighter liquoring grades. For the plain dust grades, the bids ranged from Rs 44-45 a kg and for the brighter liquoring grades, Rs 63-73.

Among the corporate buyers, Hindustan Lever Ltd showed interest on better medium varieties. JV Gokal and Northern Projects supported the range of brokens.

Exports

On the export front, Pakistan turned selective following the straining of political relationship. So, the prices for the fannings grades, which they used to buy in the recent weeks slumped. For the grades they bought, they paid around Rs 47 a kg.

But Kenya, which slowed its intake last week, resumed purchases this week. The exporters to this market paid Rs 47-50 a kg. CIS buyers paid Rs 45 a kg.

CTC teas

Among the CTC teas from bought-leaf factories, Dhavala got the highest price of Rs 79 a kilo. Darmona Estate (Rs 77.75), Highfield Estate Special (Rs 76), Selvaganapathy Supreme (Rs 75.11), Homedale Estate (Rs 74.92), Green View Estate (Rs 74), Vigneshwar Estate (Rs 73.99) and Hittakkal Estate (Rs 71.01).

Orthodox teas

Among the orthodox teas from the corporate sector, Kodanaad got the highest price of Rs 117.33 a kilo, followed by Corsely (Rs 113.51), Havukkal (Rs 110.33), Curzon (Rs 109.05), Kairabetta (Rs 107.25) and Glendale (Rs 102).

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