The Hindu Business Line : Tea prices up at Coonoor auction

INCREASED demand from both domestic buyers and exporters helped the market to remain dearer despite the huge offering of of 10.81 lakh kgs at the auctions conducted by the Coonoor Tea Trade Association (CTTA) here.

Hindustan lever Ltd bought a wide range of teas including the dust category. Domestic dealers from Punjab, Maharashtra and Gujarat stepped up their purchases of the quality better liquoring teas at Rs 65 a kg.

On the export front, the CIS, including Russia, was selective with the bolder grades at Rs 37 a kg, while Iraq stepped up its purchases of medium and plainer leaf grades at Rs 42. Consequently, BP and BPS grades fetched about Rs 2 a kg more than last week. Poland bought Pekoes and SBOP at Rs 36. As for Pakistan buyers, the availability of the clean blacker teas was limited, but wherever possible, they lifted them at Rs 40.

Kenya continued to be a good buyer of the dust grades. HLL as also some others bought them for this market and the prices ranged from Rs 41-44 a kg.

"Because of the good demand, the bolder brokens fetched around Rs 5 a kg more than last week. Fannings some Rs 3 more. Orthodox dusts also got Rs 3 more. Good liquoring CTC dusts fetched up to Rs 5 more. Other dusts, Rs 2 more,'' noted the market report of the joint brokers.

The increased demand helped almost 95 per cent of the huge volume to be sold off. Of them, some 60,000 kg fetched over Rs 60 a kg.

Darmona Estate continued to top the list of CTC bought leaf factories at Rs 71 a kg, while Hittakkal Estate came second at Rs 68. IBS, Vigneshwar estate and Shanthi supreme all got Rs 66.

For the next week, a still higher volume of 12.7 lakh kg has been catalogued. This week, the plain dusts fetched an average of Rs 36 a kg, while the better ones, Rs 44. Plain leaf grades got Rs 33, while the better ones, Rs 43.