• Investment World
• eWorld
• Catalyst
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Port Info

• Ships in Ports
  
  

Archives

• Yesterday
• Datewise
• Resources

Group Sites

• The Hindu
• Business Line
• The Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

P.S. Sundar

Coonoor , June 28

A RECORD high volume of 19.6 lakh has been catalogued for the auctions of the Coonoor Tea Trade Association to be held this week.

Considering the huge volume, the auctions will go on till Thursday or Friday and even spill over to Saturday, auctioneers said.

The highest volume offered at the auctions this year so far was 18.43 lakh kg on June 9 and the second highest was 18.22 lakh kg last week. The volume catalogued for this week outstrips all these, as it is 1.2 lakh kg more than the record so far.

Of the 19.6 lakh kg, 14.27 lakh kg is leaf grades. Only 5.33 lakh kg is dust grades. As much as 18.06 lakh kg is CTC grades. Only 1.54 lakh kg is orthodox grades.

Such huge volumes lead to a price crash unless backed by a good demand to absorb the teas. In the recent weeks, whenever record volumes were offered, prices had dipped to new lows. Last week, prices hit a record low for the year at Rs 21 a kg.

But the buyers' mood is not indicative of a push-up in demand. "In the upcountry markets, the dealers have enough unsold teas. With the climate being hot, the demand is for cool drinks. We do not have sufficient orders to pick up lots now," a leading buyer told Business Line.

Even the export demand remains sluggish. Producers are worried over the continuous fall in prices.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Dubai derivatives exchange open for membership

Copyright © 2005, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line