Financial Daily from THE HINDU group of publications
Thursday, Jul 14, 2005
Financial Daily from THE HINDU group of publications Thursday, Jul 14, 2005 |
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Agri-Biz & Commodities
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Tea Over 18 lakh kg tea on offer this week at Coonoor sale P.S. Sundar
Coonoor , July 13 AROUND 18.81 lakh kg of tea will be offered for sale on Thursday and Friday at the Coonoor Tea Trade Association. This is the second highest volume so far this year. The volume, which was less than 10 lakh kg in March, rose to 14-15 lakh kg in May and to17-18 lakh kg in June. It hit a record 19.84 lakh kg in the first sale of July, but declined to 17.43 lakh kg last week. Of the 18.81-lakh kg, as much as 13.64 lakh kg are of leaf grades and the remaining 5.17 lakh kg are of dust grades. Again, as much as 17.43 lakh kg belong to the CTC and 1.38 lakh kg belong to orthodox variety.
So far this year, orthodox teas had fetched, on the average at the CTTA auctions, Rs 53 a kilo - Rs 13 more than the CTC varieties. Brokers say that if manual sale is allowed this week also, it would help them to push the huge volume out of the warehouses. "We sold around 80 per cent of the offer last week only because we did manual sale," an auctioneer told Business Line.
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