The Hindu Business Line : Coonoor teas find support at lower levels

Coonoor tea market, which crashed last week, picked up last week with improved demand for 12.85 lakh kg offered at Sale No: 45 of Coonoor Tea Trade Association (CTTA) auctions. Demand was better at lower price-levels compared to the last two weeks.

Export enquiries poor

“Better demand prevailed for CTC leaf at Rs 4-5 a kg lower level. Where producers refused to lower the price, teas had to be withdrawn as unsold. Better mediums shed Rs 3-4, mediums Rs 3-5 and plainers Rs 2-4. Many whole leaf orthodox varieties fetched Rs 4-6 lower and there were mentionable withdrawals. BOPF varieties lost Rs 5-7. Brighter CTC dusts received good demand when prices shed Rs 2-3. Mediums lost Rs 3 and plainers Rs 1-2. Here also, teas were withdrawn when producers did not lower prices. Lesser high-grown orthodox dusts dropped Rs 6-8, clean secondaries Rs 2-3 and powdery residuals Rs 4-5,” an auctioneer told Business Line.

Barring select enquiries from CIS and Iraq for plain grades, there was no mentionable activity on the export front.

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