The Hindu Business Line : Coonoor tea prices up on low offer

PRICES rose on an average Rs 2 a kg at the auctions of the Coonoor Tea Trade Association (CTTA) here on Friday with the volume on offer - 9.9 lakh kg - being one of the lowest for the year.

The improvement was more visible in the bottom levels of the various grades.

Exporters came to the help with increased purchases at relatively higher bids. Pakistan, for instance, exerted forceful impact on the well made smaller grades of the medium and better medium teas. They paid up to Rs 40 a kg. The buyers for Iraq picked up the bolder grades for up to Rs 37. CIS shippers preferred the black Pekoes for up to Rs 41.

Upcountry buyers were, however, selective. Gujarat dealers wanted quality teas for around Rs 55. Among the corporate buyers, Hindustan Lever Ltd chose bolder grades. Other buyers in this group were silent. Well-made orthodox leaf brokens were dearer following competition.

Among the CTC teas from bought leaf factories, Darmona estate got the highest price of Rs 81.61.

Quotations held by the brokers indicated bids ranging from Rs 30-32 for the plain dust grades and Rs 57-62 for the bright liquoring teas. The bids ranged from Rs 28-31 for the plain leaf grades and Rs 54-60 for the bright liquoring teas.

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