The Hindu Business Line : Volumes hit 6-month high at Coonoor tea auctions

The arrival of tea for the auctions at the Coonoor Tea Trade Association (CTTA) surged this week too. A volume of 11.09 lakh kg has been catalogued for sale this week which is 1.6 lakh kg more than last week. This is the highest in last six months.

The arrivals had been more because of the recent rains brightening the harvest in many pockets. In some cases, producers who had diverted their teas to Kochi due to VAT advantage have chosen to revert to Coonoor as the VAT rate has been reduced to one per cent from 4 per cent. Teas remaining unsold in the previous weeks are also in the catalogue this week.

Of the 11.09 lakh kg, as much as 7.57 lakh kg belong to the leaf category, 3.52 lakh kg dust category and10.44 lakh kg belong to CTC; only 0.65 lakh kg belong to orthodox.

proportion of orthodox

The proportion of orthodox continues to be low in both the leaf and dust categories. In the leaf category, orthodox is only 0.26 lakh kg while the CTC is 7.31 lakh kg. In the dust category, orthodox is 0.39 lakh kg, while the CTC is 3.13 lakh kg.

The rising trend in volume can affect the market sentiments unless backed with quality offer. Last week, prices declined Rs 2-3 a kg generally even as quality brands fetched premium bids. Among the orthodox teas from corporate sector, only six brands crossed Rs 100 mark. Of them, Curzon got the highest price of Rs 142 a kg, followed by Corsley Rs 126, Havukal Rs 124, Kodanaad Rs 122, Chamraj Rs 107 and Mailoor Rs 102.

"In general, the market dropped Rs 2 to 3 a kg over the previous week. Most plainer and medium grades shed prices. Lots of CTC leaf could be sold only when the prices were dropped Rs 2 a kg. Bolder broken lost much more. Bolder CTC dust grades lost Rs 3 a kg. Medium sorts suffered sharp decline up to Rs 3. Plainer grades lost Rs 2. Cleaner secondary orthodox dusts eased Rs 1-3 a kg. However, well-made broken orthodox leaf grades were dearer up to Rs 2," an auctioneer told Business Line.

Quotations held by the brokers indicated bids ranging from Rs 66 to 70 a kg for the brighter liquoring leaf grades and Rs 36.50 to 41 for the plain sorts. The bids ranged Rs 69 to 75 for the brighter liquoring dust grades and Rs 38.50 to 41 for the plain sorts.

More Stories on : Tea | Commodity Markets

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Cyclone alert for AP coast

Plea to include grazing of Bt cotton plants in research studies

Picking up pace

Power tiller

Software to trace grapes exports to EU launched

Spot rubber suffers further setback

Cabinet nod for additional 30 lakh tonnes sugar buffer

AP farmers unhappy with sugar returns

Volumes hit 6-month high at Coonoor tea auctions

Prices ease at Kochi tea sale

Global action plan in food processing sector gets approval

Ruling steady

Pepper futures rise on buying support