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P.S. Sundar

Coonoor , Oct. 8

Prices dropped on an average Rs 3 a kg at the auctions of the Coonoor Tea Trade Association (CTTA) as the demand was inadequate to absorb the low volume on offer.

The volume offered dropped for the fourth consecutive week and totalled only 9.63 lakh kg. But, the demand seen for the brighter liquoring teas in the recent weeks was absent. Only some 3,000 kg of this volume fetched more than Rs 65 a kg.

Almost 60 per cent of the offer of this category was withdrawn for want of bids acceptable to the sellers.

Buyers complained of tight cash flow situation arising from a series of festival holidays in the northern States.

Corporate front

Hindustan Lever Ltd (HLL) operated selectively on better medium varieties.

Western India buyers chose some dust grades. Karnataka dealers preferred orthodox leaf.

The export purchase also remained subdued. Pakistan refrained from buying contending that trade could happen only with better political equations.

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