The Hindu Business Line : Tea prices gain on demand at Coonoor auctions

Darmona Estate has created yet another record at the auctions of Coonoor Tea Trade Association (CTTA) when in Sale No: 50, its BOPF grade, auctioned by J. Thomas and Co, fetched Rs 135 a kg and PD Rs 128.

“We have broken our own record of last week when we received the highest price of Rs 131. No grade of CTC tea from any bought-leaf factory has ever received this price in CTTA auctions. In all, six of our marks remained in Rs 100 price-band – apart from the above, our RD grade got Rs 125, BOP Rs 111, BP and SRD Rs 110 each”, Mr Dinesh Raju, Managing Partner, Darmona Estate and Tea Industry, told Business Line.

Homedale Estate, auctioned by Global Tea Brokers, also created a new record when, for the first time, five of its marks entered the Rs 100 price-band. “Our PD got Rs 111, RD and BP Rs 106 each, another line PD Rs 102, and BP Rs 100. Although we have been getting consistently top-bracket prices, this is the first time so many of our marks entered the premium category in one sale”, Mr Prashant Menon, Managing Partner, Homedale Tea Factory, said.

Professor’s RD got Rs 112 and PF Rs 104, Hittakkal Estate’s RD Rs 109 and PD Rs 108, Kannavarai Estate’s RD Rs 102 and SFD Rs 100, Greenview Estate Rs 102, Highfield Estate special and Garswood Estate Rs 100 each.

Corporate sector

Among orthodox teas from corporate sector, Curzon got Rs 128, Corsley Rs 121, Quinshola Rs 118, Mailoor Rs 115, Kodanaad Rs 113, Chamraj Rs 112, Kairbetta Rs 110, Kil Kotagiri Rs 106 and Glendale Rs 102.

Quotations held by brokers indicated bids ranging Rs 50-52 a kg for plain leaf grades and Rs 85-98 for brighter liquoring sorts. They ranged Rs 52-54 a kg for plain dust grades and Rs 95-108 for brighter liquoring sorts.

Prices generally rose by Rs 3 a kg as demand was strong to absorb the 5-week low offer of 13.84 lakh kg. “Brighter liquoring teas received improved demand at Rs 2-4 more per kg. Better medium sorts got Rs 2-3 and plainers Rs 2 more. Secondary orthodox brokens got Rs 2 more”, an auctioneer said

Exports

On the export front, Pakistan selected some grades for around Rs 57-60 levels. Egypt bought smaller brokens. There was some buying for European ports at Rs 57-60 a kg. Iraq picked up some fannings.

Among corporate buyers, Hindustan Unilever Ltd and Tata Tea Ltd selected better medium grades. Some Defence buying was seen on medium brokens.

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