The Hindu Business Line : Quality teas get higher prices at Coonoor sales

Coonoor, Oct. 22 Quality invoices fetched higher prices, while the plainer grades were rejected by buyers at the auctions of the Coonoor Tea Trade Association (CTTA) here.

Auctioneers brought for sale 12.94 lakh kgs – as much as 1.23 lakh kgs more than the volume of the previous week. Around 9.67 lakh kgs were fresh teas. The balance was the volume remaining unsold in the previous auctions. Since these teas failed to fetch bids then because of quality, the problem continued even now, auctioneers explained.

Many unsold

“Good quality CTC leaf grades were dearer. Many invoices fetched more than Rs 2 a kg on competition. Well made and better medium grades were also steady if not dearer. Whole leaf orthodox leaf teas were mentionably dearer. Even secondary orthodox dusts got better demand at higher prices. It is the medium ones which lost at least Rs 0.50 a kg. Plainer grades of both the CTC and orthodox leaf and dusts shed Rs 2 a kg to be sold. Many invoices went unsold for want of takers”, an auctioneer said.

Among the corporate buyers, Hindustan Unilever Ltd (HUL) selected better medium grades.

On the export front, CIS bought medium and plainer bolder grades but at lower levels. Pakistan exporters were choosy. In effect, exporters failed to leave an impact on the offer.