The Hindu Business Line : Coonoor tea prices fall, substantial offer withdrawn

Nearly 35 per cent of the 11.80 lakh kg of leaf and 30 per cent of the 5.97 lakh kg of dust teas offered for Sale No: 27 of the auctions of Coonoor Tea Trade Association (CTTA) had remained unsold as the demand was inadequate to absorb the teas at the base price fixed in the e-auctions.

In all, 17.77 lakh kg had been offered, the highest volume so far in 2009. Of this, 3.36 lakh kg comprised teas remaining unsold in previous auctions and were re-offered this week.

“The huge volume and the disproportionately high base price fixed discouraged us from bidding high. Buyers could not get samples in time. Tea consumption in North India has fallen due to the scorching heat”, a buyer told Business Line.

Generally, prices dropped by Rs 3 a kg. “Orthodox whole leaf market eased Rs 5-7 a kg and fannings Rs 1-2. CTC high-priced leaf grades lost Rs 2-5, better mediums Rs 3-4, bolders Rs 2-4 and plainers Rs 3-5. But, cleaner, blacker, smaller and grainy sorts gained Rs 2-3. Primary orthodox dusts eased Rs 4-5. Others faced mixed trend. High-priced CTC dusts lost Rs 4-5, better mediums Rs 5-7, bolders Rs 2-3 and plainers Rs 2-5”, an auctioneer said.

Bought-leaf

Among CTC teas from bought-leaf factories, Darmona Estate got the highest bid of Rs 138 a kg and five of its grades fetched Rs 120 and more. Homedale’s highest bid was Rs 133.50 and four of its grades got Rs 115 and more. Professor got Rs 124, Shanthi Supreme Rs 122, Hittakkal Estate Rs 120.50, Blue Monte Estate Rs 119.50, Deepika Supreme Rs 117.50, Vigneshwar Estate and Green View Estate Rs 112 each. In all, 43 grades fetched Rs 100 and more.

Among orthodox teas from corporate sector, Curzon got Rs 153.50, Chamraj Rs 145, Glendale Rs 144, Mailoor Rs 143, Craigmore Rs 141, Pascoe’s Woodlands Rs 140, Colacumby Rs 136 and Parkside Rs 135. In all, 31 grades fetched Rs 100 and more.