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P.S. Sundar

Coonoor, Dec. 21 New records were set up in the prices obtained by bought-leaf factories in the last auction for 2008 (Sale No: 51) conducted by Coonoor Tea Trade Association (CTTA) on Friday.

Darmona Estate created yet another record when its RD grade, auctioned by J Thomas and Co, fetched Rs 139 a kg. “For the second consecutive week, we have broken our own record. Last week, we set up record with the highest price of Rs 131. No grade of CTC tea from any bought-leaf factory has ever received Rs 139 a kg in CTTA auctions. ,” Mr Dinesh Raju, Managing Partner, Darmona Estate and Tea Industry, told Business Line.

Homedale Estate, auctioned by Global Tea Brokers, also created new records when, for the first time, two of its RD grades got Rs 124 and Rs 121 each.

Quotations held by brokers indicated bids ranging from Rs 50 to 53 a kg for plain leaf grades and Rs 90 to 97 for brighter liquoring sorts. They ranged Rs 55 to 59 a kg for plain dust grades and Rs 95 to 120 for brighter liquoring sorts.

Prices generally rose by Rs 3 a kg as demand was strong to absorb the six-week low offer of 13.06 lakh kg. “Strong demand prevailed for brighter liquoring teas at Rs 3 a kg more. Better medium got Rs 2 more, smaller brokens and fannings Rs 3 and plainers Rs 2. Orthodox leafy brokens fetched Rs 2-3 more,” an auctioneer said.

On the export front, Egypt bought blacker medium grades for Rs 58-62 a kg. Pakistan picked up some fannings for Rs 60-62. Iraq supported medium sorts. Some teas were bought for Rs 60-62 for shipment to European ports.

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