The Hindu Business Line : Coonoor tea prices fall on subdued demand

Although the volume offered was only 8.74 lakh kg - the lowest of the last 19 weeks barring the marginal increase of last week, — the demand was inadequate even to retain the price level. In general, prices fell Rs 3 a kg over the previous week.

On the corporate front, Hindustan Lever Ltd (HLL) was silent on many lines. It was selective towards good medium sorts.

On the export side, Pakistan bought only well made black teas. It paid up to Rs 53 a kg. On the average, the exporters to Kenya paid around Rs 52 a kg. The shippers for CIS markets showed some interest on the bolder grades but confined their bids to Rs 50.

"Medium and plainer CTC leaf grades got Rs 2 to 4 a kg lower. Some invoices suffered even steeper losses. A fair quantum of these teas was withdrawn unsold. Orthodox leaf brokens lost Rs 2 to 3 a kg. The fibrous sorts lost much more. Well made black CTC dusts maintained their last levels, but others shed at least 50 ps", an auctioneer told Business Line.

The price shedding now was a correction of the increases got in the last few weeks, they said. The buyers are not convinced as of now that there is a real shortage of tea in the market. "No need for us to do panic buying. We see the catalogue rising in the coming weeks", a buyer said.

Among the CTC teas from bought-leaf factories, Darmona Estate got the highest price of Rs 87 a kg, followed by Highfield Estate Special Rs 83.75, Homedale Estate Rs 79, Garswood estate Clonal Rs 77.02, Hittakkal Estate and Dhavala Rs 75, Vigneshwar Estate Rs 74.59 and Green View Rs 74.

Among the orthodox teas from the corporate sector, Corsely, Chamraj and Prammas got the highest price of Rs 117, Kodanaad Rs 109, Havukkal Rs 108, Colacumby Rs 107, Kairbetta Rs 105.01 and Glendale Rs 105.

Quotations indicated bids ranging from Rs 44.50 to Rs 46 a kg for the plain leaf grades and from Rs 63 to Rs 70 for the bright liquoring grades. For the plain dust grades, the bids ranged Rs 48-49 and for the bright liquoring sorts, Rs 66 -74.

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