The Hindu Business Line : Coonoor tea prices drop

Coonoor April 22 Prices dropped on an average Rs 2 a kg at the auctions of the Coonoor Tea Trade Association (CTTA) here when the demand was inadequate even to absorb the low volume on offer.

The offer of 7.63 lakh kg was the lowest of the last four weeks. But buyers complained of reduced retail consumption and a general decline in quality.

Corporate buyers

Among the corporate buyers, Hindustan Lever Ltd (HLL) bought selectively on the smaller grades of the medium and good medium leaf varieties. But, it did not buy dust grade at all.

Among the CTC teas from bought-leaf factories, Homedale Estate got the highest price of Rs 85 a kg, followed by Highfield Estate Special Rs 81. Warwick and Selva Ganapathy Estate got Rs 80 and Darmona Estate Rs 79.

Among the orthodox teas from the corporate sector, Prammas got the highest price of Rs 132 a kg , followed by Kodanaad Rs 130. Curzon and Thaishola got Rs 126, Tiger Hill and Kairbetta Rs 125, Chamraj Rs 115, Corsley Rs 114, Quin Shola Rs 104, Havukal and Glendale Rs 100.

Quotations held by the brokers indicated bids ranging from Rs 39-40 for plain leaf grades and Rs 58-66 for the brighter liquoring grades. They ranged Rs 42-44 for the plain dust grades and Rs 65-77 for the brighter liquoring grades.