The Hindu Business Line : Low volume continues at Coimbatore tea sale

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Coimbatore Feb. 12 The tea market has in the last six weeks witnessed a steady decline in offerings. From a level of over 7 lakh kg in the first week of January, the offerings have dipped to 4.89 lakh kg this week, comprising 2.16 lakh kg of leaf grades and the rest of the dust.

No rise in prices

While the volumes slipped to the current levels, the price levels have not seen a corresponding rise. Industry sources however term the market as "fair but selective".

At the auction held at the Tea Trade Association of Coimbatore on Friday, select invoices of well-made, high grown Orthodox whole leaf ruled firm, others were irregular with quality. Limited quantity of medium orthodox leaf grades sold at barely steady levels. CIS exporters were selective, shippers to Iraq remained silent while HLL operated on well-made larger teas.

There was some domestic enquiry for the orthodox dust grades. The quantities on offer were fully taken. Upcountry buyers picked the brighter liquoring CTC leaf while the CIS exporters lent selective support for the bolder grades.

The demand for the CTC dust grades remained generally fair with both the internal buyers and Tata Tea operating actively on the good liquoring teas. Plainer sorts ruled steady. Select export enquiry was evident. AVT was selective but HLL absent.

The orthodox high growns quoted in the Rs 65-92 range, while the medium orthodox Nilgiris ruled between Rs 43 and Rs 46 a kg .

The best CTC teas quoted between Rs 53 and Rs 64.