The Hindu Business Line : Coonoor tea prices up on low offer

Coonoor, Nov. 25 For the third consecutive week, prices rose at an average Rs 3 a kg at the auctions of the Coonoor Tea Trade Association (CTTA) on Friday, when the demand matched to absorb the low offer.

Only 9.28 lakh kg was offered which is the lowest volume in the last 23 weeks, except for the auctions held on August 30 when the volume was 9.57 lakh kg.

Even medium and plainer teas received strong demand. The bottom level of dust grades rose to a new high of Rs 36 a kg even as that of the leaf grades fell back to Rs 30.

“Brighter liquoring teas witnessed good demand and the quality invoices fetched Rs 6 a kg more. Medium brokens among the CTC leaf grades sold dearer by Rs 2-3. Smaller brokens and fannings fetched Rs 3-4 more. Blacker leaf sorts posted still higher increases. Well-made orthodox leaf grades got over Rs 3 more. Leafy brokens were dearer up to Rs 2. Some BOPF grades fetched Rs 5 more. In the CTC dust counter, better medium sorts were up Rs 5, medium Rs 2-3 more. Plainer teas also got good demand and sold even Rs 4-5 more. On the orthodox dust front, clean secondary teas sold dearer by Rs 3-4. Cleaner residuals fetched up to Rs 5 more,” an auctioneer told Business Line. Among corporate buyers, Hindustan Unilever Ltd lent useful support for the good medium varieties.

Exports

On the export front, Pakistan increased its purchases this week and picked up well-made teas. CIS shippers seemed to be subdued although some purchases were recorded for bolder brokens. Egypt bought smaller brokens and fannings.

Among the CTC teas from bought-leaf factories, Selva Ganapathy Premium and Greenview Estate got Rs 89 a kg, Homedale Estate Rs 87, Santhi Supreme, Vigneshwar Estate and Highfield Estate Special Rs 85 and Darmona Estate Rs 81.

Corporate sector

Among the orthodox teas from corporate sector, Kairbetta got Rs 121 a kg, Chamraj Rs 119, Havukal Rs 114, Corsley Rs 112, Kil Kotagiri Rs 110, Kodanaad and Curzon Rs 106 and Prammas Rs 104.