The Hindu Business Line : Coonoor tea prices up on strong demand

Coonoor, Sept. 7 Following strong internal demand, prices rose to Rs 3 a kg on an average at Sale No 36 of the auctions of Coonoor Tea Trade Association (CTTA) on Friday when 11.6 lakh kg were offered.

Exporters were generally selective. For the fourth consecutive week, Pakistan purchases were subdued.

“With Ramzan fast going on, fresh orders are yet to come. Also, some image white-washing has to be done to assure reliable quality in the context of adverse publicity on adulterated teas meant for Pakistan,” an exporter told Business Line.

Buyer support

CIS exporters bought medium grades, paying up to Rs 65 a kg. Poland bought bolder grades for around Rs 62. Egypt picked up odd invoices for up to Rs 70.

Tata Tea Ltd lent useful support to better liquoring CTC leaf market. Duncan Tea Ltd was strong on liquory sorts.

Hindustan Unilever Ltd bought better medium teas. JV Gokal and Ambo Exports operated on whole leaf orthodox teas.

“Orthodox leaf received generally good demand pushing up the market by Rs 3-5 a kg. Well-made and stylish whole leaf grades were dearer by Rs 2. Brighter liquoring CTC leaf grades witnessed good demand at Rs 2 a kg more.

Better medium sorts gained Rs 4. Primary orthodox dusts were dearer by Rs 5-10.

Secondaries gained Rs 2-3. Good demand prevailed on all categories of CTC dusts. Brighter liquoring teas sold dearer by Rs 2. Medium grades gained Rs 3. Plainers fetched a rupee more,” an auctioneer said.

Ruling prices

Darmona Estate, auctioned by J Thomas & Co, continued to remain in Rs 100 price-category for five marks. Two of them were leaf grades — BOPF Rs 116 a kg, and BOP Rs 111. Three were dust grades — SRD Rs 111, PD Rs 106 and SFD Rs 100. Homedale Estate, auctioned by Global Tea Brokers, was the only other mark in the Rs 100 price-band. Its RD grade got Rs 104.

Sree Tea Supreme, Hittakkal Estate, Professor and Shanthi Supreme got Rs 99 each, Highfield Estate Special Rs 98, Green View Estate, Warwick and Kannavarai Estate Rs 97 each, Ella Estate Rs 96, Highfield Estate and Kotagiri Estate Rs 94 each, Sree Tea Estate, Venus Estate and Sree Lakshmi Estate Rs 92 each.

Among orthodox teas from corporate sector, Havukal got Rs 140, Chamraj Rs 135, Curzon and Mailoor Rs 126 each, Corsley Rs 119, Kairbetta and Tiger Hill Rs 115 each, Parkside Rs 113, Quinshola, Coonoor Tea and Glendale Rs 110 each, Kodanaad, Sutton and Colacombie Rs 104 each and Kil Kotagiri Rs 100.

Quotations held by brokers indicated bids ranging from Rs 58-62 a kg for plain leaf grades and Rs 74-78 for the brighter liquoring sorts. They ranged Rs 64-68 a kg for plain dust grades and Rs 84-99 for brighter liquoring sorts.