The Hindu Business Line : Sluggish demand pulls down Coonoor tea prices

SLUGGISH demand leading to huge withdrawals and price decline marked the auctions of the Coonoor Tea Trade Association (CTTA) here on Saturday when a volume of 16.62 lakh kg comprising 12.29 lakh kg of leaf and 4.33 lakh kg of dusts was offered for sale.

"Nearly 55 per cent of the offer could not be sold. The withdrawal was more pronounced in the case of dust teas. The medium and plainer teas suffered heavy withdrawals for want of bids", an auctioneer told Business Line.

In general, the market lost around Rs 3 a kilo over the previous week.

Among the corporate buyers, Hindustan Lever Ltd was selective. But, other corporate buyers including Tata Tea, Duncans, GPI and Indcoserve were absent. J.V. Gokal operated on the liquoring bolder grades.

On the export front, the visible purchase was for Pakistan and Iraq. While they picked up their favourite teas for around Rs 34 a kilo, many teas for CIS, Poland and other destinations were without buyers.

Among the medium and plainer teas, the sale could take place only when the prices were dropped up to Rs 3 a kilo. The secondaries and powdery residuals among the orthodox teas could also be sold only when the prices were lowered by Rs 3, he said.

The buyers for Maharashtra and Gujarat markets said that following the recent floods, there was a definite disruption in the trade.

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

Stories in this Section
Fishing for labour

Healthy and plenty

Exports to Pakistan — Sugar release order likely this week

Sluggish demand pulls down Coonoor tea prices

Coonoor tea auction turnover up 4.37 per cent

NY cotton likely to test support levels

World soyabean output forecast at 216.78 mt

Now, insurance for farmers against excess rain

Industry hails new norms for fixing sugarcane SMP

Fishermen plan agitation from November 21