The Hindu Business Line : Coonoor tea prices decline on inadequate demand

Prices declined Rs 2 a kg at Sale No: 38 of the auctions of the Coonoor Tea Trade Association (CTTA) held here when a volume of 11.12 lakh kg on offer found it hard to fetch higher bids.

This was the highest volume of the last eight weeks except for the auction that took place on August 9 with 11.8 lakh kg. “Less enquiry was witnessed for the medium sorts which fetched Rs 2 a kg lower. Browner types lost much more. Plainer teas ware barely steady. BOPFs found takers only at lower bids. Lesser high grown teas and fibrous sorts of orthodox leaf were barely steady. Even the better liquoring CTC dusts lost Rs 2 a kg”, an auctioneer told Business Line.

But, some quality invoices fetched higher prices. “Better medium CTC dusts got Rs 1 a kg more. Strong demand prevailed for whole leaf grades which were dearer on competition”, the auctioneer said.

Among the exporters, Pakistan bought some blacker sorts for around Rs 38 a kg. CIS enquiry was seen for bolder brokens. Egypt bought some finer dusts.

CTCs

Among the CTC teas from bought-leaf factories, no offer fetched more than Rs 100 a kg. Darmona Estate got the highest bid of Rs 87. Homedale got Rs 80, Hittakkal Estate Speciality Rs 78 and Highfield Estate Special Rs 75.

Among the orthodox teas from corporate sector, Kodanaad and Corsley got the highest price of Rs 122 a kg. Mailoor got Rs 118, Havukal and Prammas Rs 116. The bottom price rose to Rs 32 from Rs 31 prevailing for some weeks now. Quotations held by the brokers indicated bids ranging from Rs 32 to 34 a kg for the plain dust grades and Rs 60 to 72 for the brighter liquoring teas. They ranged Rs 32 to 35 for the plain leaf grades and Rs 60 to 65 for the brighter liquoring sorts.