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

Prices rose Rs 1-2 a kg at Sale No: 49 of the auctions of the Coonoor Tea Trade Association (CTTA) here when the demand was adequate to absorb the low volume on offer.

For the third consecutive week, the volume was less than 10 lakh kg. Only 9.38 lakh kg were offered. Invoices whose quality was found to be better, fetched increased demand and higher prices. The bottom price remained Rs 37 a kg reached last week.

“High priced CTC leaf grades got Rs 1-2 a kg more. The prices of better mediums increased more than Rs 2 over last week levels. Smaller brokens and fannings sold dearer by Rs 1-2. Whole leaf orthodox grades were dearer up to Rs 2, but brokens suffered withdrawals due to subdued enquiries. High priced CTC dust grades fetched Rs 2-3 more. Powdery sorts sold dearer by Rs 2-4. Medium sorts tended lower up to Rs 2. Primary BOPDs were dearer from Rs 2-8. Secondary and finer dusts were up by Rs 2-3. But, where quality dropped, prices also dropped”, an auctioneer told Business Line.

On the corporate buying front, Hindustan Unilever Ltd lent useful support on good medium varieties.

On the export front, Pakistan bought blacker sorts for Rs 46-48 a kg. CIS selected leaf grades for around Rs 41, but most bids ranged Rs 32-33 for which teas were not available. Egypt was subdued and selected smaller brokens and fannings. Poland was selective.

Among the CTC teas from bought leaf factories, Darmona Estate sold by J Thomas and Co fetched Rs 100 a kg. Homedale Estate sold by Global Tea Brokers got Rs 99, the highest price the factory got so far in 2007. Greenview Estate and Warwick Estate got Rs 80 and Hittakkal Estate Rs 79.

Among the orthodox teas from corporate sector, Curzon got Rs 126 a kg, Corsley Rs 122, Havukal Rs 121, Kairbetta Rs 120, Chamraj Rs 113, Kodanaad Rs 111, Prammas Rs 110, Sutton Rs 105, Glendale and Tiger Hill Rs 104, Craigmore Rs 102 and Kil Kotagiri Rs 100.

Quotations held by the brokers indicated bids ranging from Rs 37-41 a kg for the plain dust grades and Rs 62-80 for the brighter liquoring teas. They ranged Rs 37-42 for the plain leaf grades and Rs 58-68 for the brighter liquoring sorts.