The Hindu Business Line : Coonoor tea prices rise on demand

Prices rose on an average Rs 3 a kg at Sale No: 22 of the auctions of Coonoor Tea Trade Association (CTTA) as demand was competitive to absorb the huge offer of 12.48 lakh kg. Both upcountry and export demand was strong.

CTC leaf

Pakistan was the mainstay for the CTC leaf market. Its shippers bought blacker smaller sorts paying up to Rs 70 a kg. Pakistan’s operation here arose from low supplies and high price at Kenya’s Mombassa auctions from where it procures the bulk of its requirements. Tea Board of Kenya has reported a 29 per cent fall in January-April production over last year to total 98 million kg. Consequently, prices at Mombassa have risen to $ 2.31 a kg from $2.23 a month ago and $1.70 a year ago. Pakistan was forceful in CTC dust market as well here.

Egypt bought smaller brokens and fannings for up to Rs 65 a kg. Lone Tunisian buyer purchased medium grades paying up to Rs 60 a kg. CIS shippers paid up to Rs 53 for bolder grades.

Corporate buying

On the corporate buying front, Hindustan Unilever Ltd bought good medium CTC leaf grades. It was quiet in dust sale. Tata Tea continued to select better medium grades. Girnar bought orthodox whole leaf. JV Gokal and JFK International picked orthodox dusts. “Bolder CTC leaf gained a rupee a kg while smaller brokens and fannings were dearer by Rs 3. Plainers also got Rs 2 more. Brighter liquoring CTC dusts sold dearer by Rs 2. But primary orthodox dusts suffered weak demand” an auctioneer told Business Line.

This week also, no brand of CTC tea from bought-leaf factories crossed Rs 100/kg mark. Darmona Estate topped at Rs 97 followed by Homedale Estate Rs 92, Selva Ganapathy Supreme Rs 86, Professor, Shanthi Supreme, Vigneshwar Estate and Green View Estate Rs 85, Hittakkal Estate and Ella Estate Rs 84, Sree Tea Supreme Rs 82, Deepika Supreme and Kannavarai Estate Rs 81, Aroma Estate and Garswood Estate Rs 80.

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