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P.S. Sundar

Coonoor, Nov. 30 Prices generally dropped by Rs 4 a kg at Sale No: 48 of the Coonoor Tea Trade Association (CTTA) auctions on Friday despite the offer of 14.97 lakh kg being 3-week low as demand was weak.

But, brighter liquoring teas continued to remain in premium bracket. Among CTC teas from bought-leaf factories, as many as five grades of Darmona Estate entered Rs 100 price-band. Shanthi Supreme got Rs 110, Green View Estate Rs 107, Hittakkal Estate Rs 106, Selva Ganapathy Supreme Rs 105, Kannavarai Estate Rs 102 and Homedale Rs 100.

Among orthodox teas from corporate sector, Curzon got Rs 122, Mailoor Rs 115, Quinshola and Corsley Rs 105 each, Chamraj, Colacumby and Kodanaad Rs 100 each.

Quotations held by brokers indicated bids ranging from Rs 50-53 a kg for plain leaf grades and Rs 82-93 for brighter liquoring sorts. They ranged Rs 50-52 a kg for plain dust grades and Rs 95-110 for brighter liquoring sorts.

“Brighter liquoring sorts received fair demand. But medium CTC leaf teas lost Rs 5-6 a kg. When sellers refused to lower prices, teas had to be withdrawn. Even after shedding Rs 7-8, plainer sorts suffered withdrawals for want of bids. Whole leaf orthodox lost Rs 3-4 and brokens Rs 4-5. Brighter liquoring CTC dusts gained Rs 2-3 and quality invoices much more on competition. Substantial volumes of medium ad plainers were withdrawn. Lesser high-grown orthodox dusts eased Rs 3-4, secondaries Rs 2-3 and powdery residuals Rs 5. In all, about 35 per cent of the leaf and 45 per cent of the dust offered went unsold,” an auctioneer told Business Line.

On the export front, Egypt bought in a wide range of Rs 60-87 a kg. Pakistan bought small volumes of blacker sorts for Rs 48-51. CIS selected bolder grades. Some purchases were seen for West Asia.

“There is enough tea in pipeline. We are waiting for fresh orders after liquidating stocks. Now, we are choosing quality offers. That’s why in some invoices, brokers were just reading out the lots and no bids came forth”, a buyer said.

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