The Hindu Business Line : Strong demand keeps Coonoor tea buoyant

Coonoor, Aug 3 Prices rose by Rs 4 a kg at Sale No: 31 of the Coonoor Tea Trade Association (CTTA) auctions here on Friday as the demand was strong enough to absorb the huge volume of 13.39 lakh kg at high bids. Both exporters and domestic traders actively competed.

“Supplies are tight in upcountry markets. Stocks have come down. There is no tea in pipeline. We have good demand from Gujarat, Maharashtra, Punjab, Rajasthan and Karnataka. As adequate volume is available here, we are stepping up purchases. We are buying quality teas here at a price lower than North Eastern teas,” a leading buyer told Business Line.

“We had not seen such market buoyancy for over a decade now. Whole leaf orthodox teas sold Rs 5-12 a kg more. Brokens fetched Rs 2-3 more. High-priced CTC leaf grades were dearer by Rs 2-4. Improved invoices fetched handsome gains. Plainers also appreciated by Rs 2-4. Primary orthodox dusts were up by Rs 5-10. Secondaries sold up to Rs 4 more. Brighter liquoring CTC dusts fetched Rs 2-3 more. Better medium and medium grades appreciated by Rs 3. Plainers were dearer up to Rs 2,” an auctioneer said.

Export front

Among exporters, Pakistan bought blacker cleaner sorts paying up to Rs 81 a kg. CIS operated on bolder grades from Rs 56-64. Poland bought CTC leaf for Rs 60. Egypt purchased medium CTC dusts for up to Rs 64. Tunisia purchased CTC leaf at Rs 76. Kenya bought CTC smaller dusts for Rs 64. There was some purchase of quality orthodox tea for US market at Rs 110.

Darmona Estate was the only brand among CTC teas from bought-leaf factories to remain in Rs 100 a kg price-band. Four of its grades shot into this level. BOPF grade got the auction-high price of Rs 109 a kg. BOP got Rs 107, PD Rs 105 and BP Rs 100. Homedale Estate and Highfield Estate Special got Rs 94 each, Hittakkal Estate and Vigneshwar Estate Rs 93 each, Deepika Supreme Rs 92, Kannavarai Estate, Ella Estate and Warwick Estate Rs 90 each. Over 20 brands were in Rs 85-89 band.

Orthodox teas

Among orthodox teas from corporate sector, Chamraj got Rs 135, Havukal Rs 122, Tiger Hill Rs 121, Corsley Rs 120, Glendale and Mailoor Rs 118 each, Coonoor Tea Rs 115, Colacumby Rs 114, Parkside Rs 110, Curzon, Pascoe’s Woodlands and Craigmore Rs 109 each, Kodanaad and Quinshola Rs 106, Kairbetta Rs 105 and Kil-Kotagiri Rs 104.

Quotations held by brokers indicated bids ranging from Rs 50-53 a kg for plain leaf grades and Rs 68-86 for the brighter liquoring sorts. They ranged Rs 58-63 a kg for plain dust grades and Rs 74-94 for brighter liquoring sorts.

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