The Hindu Business Line : Exports boost tea prices

COONOOR: Reduced offerings and increased demand from exporters helped the prices to improve at the auctions of the Coonoor Tea Trade Association (CTTA) here.

Prices generally rose by Rs 2 per kg over the previous week. The lowest bid, which was ruling around Rs 20 per kg for the past two months improved to Rs 22.

The volume offered declined to 11.68 lakh kg — some four lakh kg lower than the previous week. This was the lowest volume in the last five months.

Along side, exporters stepped up their purchases. Pakistan bought clean black type teas for up to Rs 42 per kgCIS bought sizable volume for around Rs 30 per kg. The shippers to Iraq bought the teas for around Rs 34. Poland buyers paid around Rs 25 and supported some bolder big type teas. However, the internal demand was rather subdued. On the corporate front, Hindustan Lever Ltd (HLL) supported better medium varieties. Other corporate buyers were absent.

Orthodox primary dusts appreciated in price due to competition. Lesser high grown teas sold at steady levels.

Despite the gain in prices at the lower and medium end, the movement of teas at high prices was limited. Only around 3,000 kg could be sold for over Rs 65 per kg.

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