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P.S. Sundar

Coonoor, Aug 13

An analysis of the catalogues of various brokers indicates that volume offered for sale No: 33 of the auctions of Coonoor Tea Trade Association (CTTA) concluding on Thursday totals 11.22 lakh kg. There will be no auction on Friday because of the Independence Day. This is the lowest volume of the last 18 weeks barring April 24 when the volume was 11.08 lakh kg. This week’s volume is lower than last week’s offer by as much as 1.33 lakh kg. Still, compared to the offer this time last year, the volume is higher by 1.24 lakh kg.

Fresh arrivals continue to be high. Of the 11.22 lakh kg, fresh arrivals total as much as 11.03 lakh kg. The balance comprises teas remaining unsold in previous auctions.

Of the 11.22 lakh kg on offer, 7.99 lakh kg belong to the leaf grades and 3.23 lakh kg belong to the dust grades. Again, as much as 10.67 lakh kg belong to CTC variety and only 0.55 lakh kg, orthodox variety.

The proportion of orthodox teas continues to be low in both the leaf and dust grades. In the leaf counter, only 0.21 lakh kg belong to orthodox while 7.78 lakh kg, CTC. Among the dusts, only 0.34 lakh kg belong to orthodox while 2.89 lakh kg, CTC.

Auctioneers said that competitive export and domestic demand to absorb the low volume on offer would keep the market buoyant as last week when prices rose by Rs 2-3 a kg. Homedale Estate created record when its BOP grade, auctioned by Global Tea Brokers, fetched Rs 112 a kg. This was the highest-ever price got by Homedale for any of its CTC leaf grades. Also, it was the first time, this factory shot into Rs 100-plus price band for CTC leaf category.

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