The Hindu Business Line : Coonoor tea prices mixed

Prices refused to rise significantly at the second auctions for 2008 of the Coonoor Tea Trade Association (CTTA) despite the volume offered being low at 8.86 lakh kg because of selective demand.

“Brighter liquoring CTC leaf grades sold firm to dearer on competition. But, browner sorts fetched Rs 1.50 a kg lower. Plainer bolder grades eased Rs 1 a kg. Smaller brokens and fannings, however, gained Rs 2. Broken orthodox leaf grades lost up to Rs 2. The secondary grades and fannings sold at last levels. CTC dust grades eased up to Rs 1. Orthodox dust grades were dearer up to Rs 2. Most secondary dust grades were withdrawn for want of bids”, an auctioneer told Business Line.

Exports

On the export front, Pakistan continued to show interest for blacker cleaner smaller description in the wake of short supplies from Kenya.

“Although auctions resumed in Mombassa this week after a fortnight, market has not become normal following the disruption due to the post-poll violence. Teas became expensive in Mombassa by as much as 40 cents a kg in the fortnight gap, with speculators spreading fears of short supplies in the backdrop of political disturbances”, an exporter said.

The CIS and Poland shippers were mentionably selective. There was no noticeable buying for other countries.

Hindustan Unilever Ltd was forceful in the leaf counter, but did not operate in the dust sale. J.V. Gokal was active on the whole leaf orthodox teas.

Among the CTC teas from bought-leaf factories, Darmona Estate got the highest price of Rs 98 a kg, followed by Homedale Estate Rs 96, Greenview Estate Rs 84, Hittakkal Estate Rs 83, Vigneshwar Estate Rs 82, Highfield Estate Special and Ella Estate Rs 81, Professor and Kannavarai Rs 80.

Among the orthodox teas from corporate sector, Curzon got the highest price of Rs 142 a kg, followed by Kil Kotagiri Rs 129, Prammas Rs 128, Kodanaad and Kairbetta Rs 126, Havukal Rs 119, Quinshola Rs 118, Chamraj and Pasco’s Woodlands Rs 116, Glendale Rs 104, Erinkadu and Coonoor Tea Rs 102, Craigmore and Parkside Rs 100.

Quotations held by the brokers indicated bids ranging from Rs 39-43 for the plain leaf grades and Rs 64-78 for the brighter liquoring sorts. They ranged Rs 42-46 for the plain dust grades and Rs 65-80 for the brighter liquoring sorts.