Business Daily from THE HINDU group of publications
Tuesday, Nov 03, 2009
ePaper | Mobile/PDA Version | Audio | Blogs
Business Daily from THE HINDU group of publications Tuesday, Nov 03, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Agri-Biz & Commodities
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Tea Huge volumes withdrawn at Coonoor tea auction P.S. Sundar Coonoor, Nov. 2 For the sixth consecutive week, prices tumbled and substantial volumes remained unsold at the auctions of Coonoor Tea Trade Association as demand was grossly inadequate at Sale No: 44 to absorb at base price the offer of 16 lakh kg. Already, 34 per cent of this offer comprised teas which had remained unsold in previous auctions. Prices were shed by Rs 3 a kg to induce buyers to pick up volumes. Nevertheless, in the current auctions, as much as 32 per cent of leaf and 46 per cent of dust offered remained unsold. Producers were worried that backlog of unsold teas was increasing even after shedding prices. CTC leaf eases“High-priced CTC leaf eased Rs 2-5 a kg and better medium Rs 2-3. Almost 60 per cent of the plainers could not be sold even after shedding Rs 3. But, quality orthodox leaf gained up to Rs 10. Secondary and finer orthodox dusts eased Rs 2-3. Prices of primary sorts oscillated between dearer and easier levels by Rs 1-2. High-priced CTC dusts managed to gain up to Rs 3. Nearly 60 per cent of the plain CTC dusts remained unsold even after shedding Rs 3”, an auctioneer told Business Line. More Stories on : Tea
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