Financial Daily from THE HINDU group of publications
Tuesday, Jan 24, 2006
Financial Daily from THE HINDU group of publications Tuesday, Jan 24, 2006 |
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Agri-Biz & Commodities
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Tea Low demand hits tea prices at Coonoor P. S. Sundar
Coonoor , Jan. 23 LOW demand from the industry hit prices at the auctions of the Coonoor Tea Trade Association (CTTA) here during the weekend, despite the volume on offer coming down by 2.31 lakh kg over the previous week to 8.13 lakh kg. In the corresponding auctions last year, 12.67 lakh kg had been offered for sale.
Even the exporters who support such teas were absent. Russia failed to buy. Buyers for Iraq, who were active until a couple of auctions ago, are inactive now. There was only a very minimal purchase for Pakistan up to Rs 39 a kg. Corporate buyers such as Hindustan Lever Ltd and Duncans picked up medium grades. Medium varieties also lost Rs 2. Plainer CTC dusts lost up to Rs 3. Several such offers could not be sold at all," an auctioneer said. Among the CTC teas from the bought-leaf factories sector, Darmona estate got the highest price of Rs 85.05 a kg. Homedale Estate got Rs 74 a kg and Garswood Estate received Rs 68.11, while Vigneshwar and Highfield Estate fetched Rs 68.
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