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P.S. Sundar

Coonoor, May 11

Prices fell Rs 2 a kg on the average with the high-bid demand remaining inadequate to absorb the huge volume on offer at Sale No: 19 of the auctions of the Coonoor Tea Trade Association (CTTA) here.

The volume of 12.96 lakh kg offered was the highest for more than one and a half years.

With North Indian teas hitting upcountry markets, buyers showed no haste in picking plainer and medium grades at high-bids.

“Our offers are for quality teas, but we find a sacrifice in quality with volume production. We can buy plainers only if prices shed” a leading buyer told Business Line.

Accordingly, brighter liquoring teas received good demand and fetched Rs 2 a kg more.

Some invoices gained much more on competition.

“Medium teas eased Rs 2. Smaller brokens and fannings in CTC leaf lost Re 1.

Plainers also eased Re 1. Broken orthodox leaf fetched Rs 2 less. Primary BOPD lost Rs 5”, an auctioneer said.

On the export counter, Pakistan did not buy leaf grades. It picked up some dust grades for Rs 52 a kg.

Egypt bought smaller brokens and fannings for Rs 53.

CIS operated at lower levels on medium and plainer grades, paying Rs 45.

Among corporate buyers, Hindustan Unilever bought good medium leaf grades, but did not operate on dust sale. JV Gokal selected high-grown broken orthodox leaf.

No CTC brand of bought-leaf factory crossed Rs 100 a kg this week.

Homedale Estate got the highest bid of Rs 91, followed by Darmona Estate Rs 90. Kannavarai estate, Professor got Rs 89, Shanthi Supreme and Deepika Supreme Rs 87.

Highfield Estate Special and Seva Ganapathy Supreme Rs 85, Green View, Ella Estate Rs 84, Vigneshwar Estate Rs 83, Sree Tea Supreme and Hittakkal Estate Rs 82, Garswood clonal and Aroma Estate Rs 80.

Among the orthodox teas from the corporate sector, Chamraj got Rs 119, Colacumby Rs 107, Prammas, Curzon and Corsley Rs 100.

Quotations held by the brokers indicated bids ranging from Rs 43-45 a kg for plain leaf grades and Rs 65-87 for the brighter liquoring sorts.

They ranged Rs 47-52 a kg for plain dust grades and Rs 65-84 for brighter liquoring sorts.

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