The Hindu Business Line : Coonoor tea prices look up

LEAF prices improved at the auctions of the Coonoor Tea Trade Association (CTTA) here after the Tea Board allowing manual sale as traders complained that the e-auctions were also responsible for the low prices.

Generally, prices rose Rs 2-3 a kg over the previous week. "Increased demand was seen. By and large, the bottom prices went up and so, the plain and medium grades also gained", an auctioneer told Business Line.

Exporters to Pakistan bought clean black grades for around Rs 35 a kg, while those to Iraq bought BOP, BOPS and BP grades for around Rs 34.

There was some purchase of the medium sorts for the CIS markets.

Hindustan Lever Ltd (HLL), J.V. Gokul and Madhu Jayanthi bought for export trade.

Girnar Exports was selective.

Western Indian buyers gave some useful support to the good medium varieties whose price rose Rs 3 a kg. Medium sorts gained Rs 2.

Some plainer selections also sold dearer.

The medium dust grades fetched Rs 2 more, while other plain grades, Rs 3 a kg.

In all, around 6,000 kg got more than Rs 60 a kg.

Among the CTC teas from bought-leaf factories, Darmona estate got the highest price of Rs 84 a kg.

Vigneshwar Estate came a distant second at Rs 73, closely followed by Hittakkal Estate at Rs 71.

Among the orthodox teas from the corporate sector, Corsely got the highest price of Rs 136 a kg.

Chamraj and Curzon got Rs 127, Kodanaad Rs 110, Mailoor Rs 109, Coonoor Tea Rs 106, Kairabetta Rs 102 and Havukkal Rs 100.

Quotations held by the brokers indicated bids ranging from Rs 27-30 a kg for the plain dust grades and Rs 56-63 for the brighter liquoring teas.

Bids ranged from Rs 25-28 for the plain leaf grades and Rs 54-62 for the brighter liquoring teas.

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