The Hindu Business Line : Darmona tea posts new record at Coonoor auctions

Darmona Estate has created a new record at the auctions of the Coonoor Tea Trade Association (CTTA) when its RD grade sold by J. Thomas and Co P Ltd, was bought by Sree Abirami Enterprises for Rs 114 a kg.

This was the highest price fetched by any grade of CTC teas so far in 2007. For that matter, only Darmona Estate had been fetching over Rs 100 a kg and the highest price before this was Rs 110 for its RD grade sold by J. Thomas on May 28.

At this week’s sale, among the CTC teas from bought-leaf factories, Highfield Estate Special, Vigneshwar Estate and Hittakkal Estate got Rs 83 a kg. Darmona’s price was higher than most offers of even the orthodox teas from corporate sector. Curzon got the highest price of Rs 122 a kg. Kairbetta got Rs 109, Prammas Rs 108 and Corsley Rs 105.

Prices improve

Prices improved for quality offers, but declined for others. In all, 10.15 lakh kg were offered. “Some brighter liquoring teas lost because of a decline in quality. On the other hand, even plainer grades were dearer by Rs 2 a kg and some times more when buyers spotted improvement in quality. Orthodox leaf suffered from sluggish demand. Finer CTC dusts were dearer. Clean powdery and secondary orthodox dust teas lost more than Rs 2 a kg”, an auctioneer told Business Line.

Corporate buyers

Among the corporate buyers, Hindustan Unilever Ltd was active on medium sorts. Duncans bought better medium teas. Indian Products Ltd bought fannings grades.

Exporters

There was a better demand from exporters. Pakistan bought well made fannings and blacker teas. Exporters to the CIS actively bought bolder brokens. The bottom price continued to be Rs 31 a kg. A good volume was sold for Rs 31-34. Quotations held by the brokers indicated bids ranging from Rs 31 to 33 for the plain dusts and Rs 65-83 for the brighter liquoring teas. They ranged from Rs 31 to 33 a kg for the plain leaf grades and Rs 60-74 for the brighter liquoring sorts.