Financial Daily from THE HINDU group of publications
Wednesday, Oct 20, 2004
Financial Daily from THE HINDU group of publications Wednesday, Oct 20, 2004 |
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Agri-Biz & Commodities
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Tea Tea prices continue to drop at Coonoor P.S. Sundar
Coonoor , Oct. 19 FOR the fourth consecutive week, tea prices dropped this weekend when a volume of 12.04 lakh kg teas was offered for sale at the auctions conducted by the Coonoor Tea Trade Association (CTTA). While the prices generally dropped Rs 3 a kg, there were instances of teas shedding Rs 4 over the previous week. Some went unsold as well.
Buyers for the Gujarat, Punjab and Maharashtra markets were highly selective. They were active whenever they could pick up teas for a lower price. On the export front, much was dependent on the purchases by Poland, which picked up some teas at a lower end of the band - Rs 39 a kg. CIS, however, bought some suitable grades for Rs 44 a kg. Iraq buying was subdued. On the contrary, Pakistani buyers complained of the non-availability of their preferred grades.
On an average, the plainer varieties of dusts fetched Rs 40 a kg.
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