The Hindu Business Line : Coonoor tea prices up on Pak support

A STRONG demand from Pakistan traders at the Coonoor Tea Trade Association (CTTA) auctions here on Friday helped absorption of the lower volume of teas on offer at higher prices. The market was generally up by Rs 2 a kg over the previous week.

"There was a definite improvement in quality of the teas on offer. In particular, the damage caused to the flavour and liquor by the excess rains of November and December has now been neutralised. The real winter high-grown characteristics of the Nilgiri teas have started coming up only now. It is a case of late arrival," an auctioneer told Business Line.

The volume offered - 8.57 lakh kg - was some 0.17 lakh kg more than the last week, but was nearly 2.6 lakh kg lower than the corresponding sale of last year. And, although the prices were up over the last week, they were down by Rs 3 a kg compared to last year. But, in respect of good CTC dusts, the prices fetched this week were only around Rs 49 a kg, while it was Rs 64 last year.

Seiwart Dholakia, Ambo Exports, Girnar, Shah Brothers and Crystal were seen vying with one another to pick up as much volume as they could to fulfil the Pakistan orders in their hands. This week, the exporters paid up to Rs 41 a kg. JV Gokal and Zeus Exports were seen buying selectively for Russia and other CIS markets. The purchases were up to Rs 37 a kg. Iraq continued to be silent.

Among the orthodox teas from the corporate sector, Kodanaad Estate got the highest price of Rs 134.07 a kg followed by Curzon at Rs 128.65; Corsely Rs 127.75; Coonoor Tea Rs 117.35; Parkside Rs 103; and Havukkal Rs 107.05.