The Hindu Business Line : Tea prices gain at Coonoor auctions

Coonoor, Dec. 25 Market brought cheers to the players at the auctions of the Coonoor Tea Trade Association (CTTA) here last weekend when the demand was impressive enough to absorb the low volume on offer at significantly higher prices.

“It was one of the best sales we had in the recent times. Some teas gained as much as Rs 10 a kg over last week,” an auctioneer told Business Line.

Handsome Premiums

The market generally appreciated by Rs 4-5 a kg. The bottom level which ruled Rs 37 a kg for a few weeks moved up to Rs 39. “Brighter liquoring teas sold dearer by Rs 2-5 a kg. Improved invoices recorded handsome premiums. Even plainer grades fetched Rs 2-4 more. Whole leaf orthodox teas got Rs 4-5 more. Primary brokens and BOPF fetched Rs 8 more. Better medium CTC dusts were dearer by Rs 4. Some orthodox primary BOPDs sold Rs 10 a kilo more,” the auctioneer said.

Only 9 lakh kg were on offer. This was the lowest volume of the last 28 weeks. It was as much as 1.76 lakh kg lower than the offer this time last year.

Among corporate buyers, Hindustan Unilever Ltd was active on leaf grades. Strong buying was noticed for UP market. Many exporters admitted to have been out-priced by domestic purchasers. CIS was relatively quiet. Egypt purchased bolder grades for Rs 48-49 a kilo. Poland picked up teas for Rs 44-46. Pakistan selected plainer blacker teas for Rs 46-51.

Among CTC teas from bought-leaf factories, Darmona Estate topped at Rs 98 a kg, followed by Homedale at Rs 93. Highfield Estate Special got Rs 86, Green View Supreme Rs 83, Vigneshwar Estate and Hittakkal Estate Rs 82, Kotagirir Estate Rs 81 and Ella Rs 80.

Among the orthodox teas from corporate sector, Curzon and Corsley got Rs 125 a kg, followed by Kodanaad and Prammas Rs 124, Tiger Hill and Havukal Rs 121.