The Hindu Business Line : Homedale teas set up new record at Coonoor auctions

Homedale Tea Factory set up a new record at the auctions of the Coonoor Tea Trade Association (CTTA) here when its RD grade teas auctioned by Global Tea Brokers fetched Rs 102 a kg. Joshua Enterprises bought these teas. This was the highest price fetched by the factory so far in CTTA auctions. Its earlier high was Rs 100. This was also the highest price for the RD grade in Sale No: 12.

Hittakkal Speciality PD grade sold by Contemporary Tea Auctioneers P Ltd., also fetched Rs 102. Tea Services India P Ltd bought these teas. This was the highest price for the PD grade at Sale No: 12. Last week, this grade fetched Rs 107.

Among the CTC teas from other bought-leaf factories, Darmona Estate got Rs 88, Greenview Estate Rs 85, Kannavarai Estate Rs 84, Selvaganapathy Supreme Rs 82, Deepika Supreme, Professor, Sree Tea Supreme and Ella Estate Rs 80.

Among the orthodox teas from corporate sector, Chamraj got Rs 125 a kg, Mailoor Rs 117, Havukal Rs 115, Corsley Rs 113, Kairbetta, Quinshola, Curzon and Prammas Rs 110, Coonoor Tea Estate Rs 107 and Glendale Rs 103.

Export purchases were more pronounced this week. Shippers to Pakistan picked up blacker CTC leaf grades for Rs 49-51 a kg, while some select invoices of orthodox leaf grades were bought for higher prices. Exporters to CIS and Poland markets picked up plainer bolder grades for up to Rs 48. Egypt bought medium teas for up to Rs 52. There were some purchases for the US and West Asian markets at high prices.

Upcountry buyers were selective in most invoices. They said that fiscal year-end accounting limited their cash-spread as only in the next fiscal, they could get realisation for the teas they pay and buy now. So, the market showed erratic behaviour. “While high-priced CTC leaf eased Rs 1-2 a kg, their dust counterpart gained to the same extent. Some better medium and plainer CTC leaf suffered withdrawals.

Second level orthodox leaf grades were dearer up to Rs 5 a kg. Primary orthodox dusts eased to the same extent”, an auctioneer said.

Quotations held by the brokers indicated bids ranging from Rs 45 to 47 a kg for the plain leaf grades and Rs 60-80 for the brighter liquoring sorts. They ranged Rs 49-51 for the plain dust grades and Rs 62-80 for the brighter liquoring sorts.

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