The Hindu Business Line : Coonoor tea up on improved demand

WITH the volume of teas on offer coming down and demand picking up, there was improvement in prices at the auctions conducted by the Coonoor Tea Trade Association (CTTA) this weekend. Totally, 10.26 lakh kgs were offered for sale of which, 9.43 lakh kgs were CTC category and the remaining orthodox.

The better medium grades' prices rose by Rs 3 a kg over the previous week. With the internal buyers from Western India putting pressure, even exporters had to pay more to win orders. On the brighter side, buyers for Russia picked up teas up to Rs 49 a kg. Buyers for Poland paid Rs 46, while those for the CIS paid around Rs 45. Importers from Pakistan were selective on the cleaner blacker types and they paid an average of Rs 46. There was useful support from the buyers for Iraq.

Duncans picked up some select leaf grades.

Indcoserve bought smaller grades for its "Ooty Tea" project. "The better liquoring CTC broken teas were higher by Rs 2 a kg over the previous week. Clean black teas were firm. Other CTC teas were dearer by one rupee. The best high grown orthodox dusts were firm," noted the Market Report of the Joint Brokers.

Some 30,000 kgs on offer fetched over Rs 65 a kg. Darmona estate topped the CTC bought leaf factories teas fetching Rs 82 a kg. Hittakkal came a distant second at Rs 68.

Electronic auctions: The Market Report has recorded that there was better participation of the buyers at the electronic auctions and the prices realised were almost in line with the manual auctions.

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