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P.S. Sundar

Coonoor, Aug 24

Darmona Estate and Tea Industry has created records at Sale No: 34 of the auctions of Coonoor Tea Trade Association.

As many as seven of its brands shot into the Rs 100 price-brand. No single factory has so far been able to have so many brands sold in this category in one auction. Of them, four belonged to dust grades – RD Rs 119 a kg, another line of RD Rs 115, PD Rs 110 and SRD Rs 102. Three were in leaf grades – BOP Rs 108, BOPF Rs 108 and BP Rs 100.

Darmona’s Rs 119 was the highest price for CTC this week. It was also the highest price fetched by any mark of CTC tea belonging to any bought-leaf factory so far in 2008.

“This is the highest price for our factory since inception except last year when we received Rs 120”, Mr Dinesh Raju, Managing Partner, told Business Line.

Green View Estate was the only other brand to secure Rs 100 a kg this week. Sree Tea Supreme, Vigneshwar Estate, Shanthi Supreme and Kannavarai Estate got Rs 96 each, Highfield Estate Special Rs 95, Hittakkal Estate Rs 94, Ella Estate and Garswood Estate Rs 91 each and Professor Rs 90.

Among orthodox teas from corporate sector, Chamraj got Rs 148, Mailoor Rs 124, Kodanaad Rs 118, Kairbetta Rs 115, Curzon and Parkside Rs 112 each, Coonoor Tea Rs 110, Quinshola Rs 109, Colacumby and Glendale Rs 105 each, Tiger Hill Rs 103, Havukal Rs 102, Prammas and Corsley Rs 100 each.

But, prices generally declined by Rs 2 a kg despite the offer of 10.80 lakh kg being the lowest of last 19 weeks as high-bid demand was slack.

Pakistan restricted its purchases for the second consecutive week.

“Importers are worried about quality in the wake of Tea Board’s exposure in a factory of alleged adulterated teas meant for Pakistan. Besides, Ramzan fast begins on September 2. So, importers choose to wait and watch”, an exporter told Business Line.

The CIS bought bolder varieties for Rs 2 a kg lower to range Rs 61-68 a kg. West Asia chose low-priced medium teas. Poland hovered around Rs 65.

“Better medium and medium CTC leaf and dust teas lost Rs 2 a kg. Smaller brokens and fannings lost much more. Plainers eased Rs 3 and many invoices suffered withdrawal for want of bids. Whole leaf orthodox teas, however, managed to get Rs 3 more. Powdery and residual orthodox dusts eased Rs 3”, an auctioneer said.

Quotations held by brokers indicated bids ranging from Rs 58-62 a kg for plain leaf grades and Rs 73-86 for the brighter liquoring sorts. They ranged Rs 63-65 a kg for plain dust grades and Rs 78-96 for brighter liquoring sorts.

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