The Hindu Business Line : 26-week high offer at Coonoor tea auctions

An analysis of the catalogues of the various brokers indicates that a volume of 11.87 lakh kg would be offered for sale. This is 26-week high. It is 79,000 kg more than last week.

Of this, 10.94 lakh kg are fresh arrivals. The balance comprises teas remaining unsold in previous auctions.

Arrivals are more because of the recent rains kindling growth in the tea bushes. Volume is expected to be more during the rush season this month because of the 24-year high rainfall in March.

Of the 11.87 lakh kg on offer, as much as 8.10 lakh kg belong to the leaf grades and 3.77 lakh kg belong to the dust grades. Again, as much as 11.15 lakh kg belong to CTC variety and only 0.72 lakh kg, orthodox variety.

Orthodox low

The proportion of orthodox teas continues to be low in both the leaf and dust grades. In the leaf counter, only 0.23 lakh kg belong to orthodox while 7.87 lakh kg, CTC. Among the dusts, only 0.49 lakh kg belong to orthodox while 3.28 lakh kg, CTC.

High volume did not affect prices last week as buyers stepped up their purchase of quality teas. Prices rose on an average Rs 2 a kg. With export purchases likely to increase matching with domestic trade, prices are set to rule firm, auctioneers said.

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