The Hindu Business Line : 7-week high offer at Coonoor tea sales

Coonoor, April 2 A volume of 9.11 lakh kgs has been catalogued for the auctions of the Coonoor Tea Trade Association (CTTA) to take place here on Thursday and Friday.

This is the highest volume of the last seven weeks. It is 5,000 kgs more than the offer of last week. But it is as much as 1.36 lakh kgs more than the offer this time last year.

Fresh teas are said to be 8.28 lakh kgs out of the offer of 9.11 lakh kgs. The balance comprises teas remaining unsold in previous auctions.

Of the 9.11 lakh kgs, as much as 6.13 lakh kgs belong to the leaf grades and 2.98 lakh kgs belong to the dust grades.

Again, as much as 8.42 lakh kgs belong to CTC variety and only 0.69 lakh kgs, orthodox variety.

Orthodox’s share

The proportion of orthodox continues to be low in both the leaf and dust grades. In the leaf counter, only 0.19 lakh kgs belong to the orthodox while 5.94 lakh kgs, CTC. Among the dusts, only 0.50 lakh kgs belong to the orthodox while 2.48 lakh kgs, CTC.

Auctioneers said prices could firm up if the demand from upcountry buyers matches that of the exporters. Last week, export purchase was more pronounced as the domestic buyers took to cash-spread accounting adjustments for the fiscal year end.

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