The Hindu Business Line : Prices decline at Coonoor sale

Prices dropped at the auctions of the Coonoor Tea Trade Association (CTTA) here on Friday as the demand was inadequate to push up the bids. In general, prices fell Rs 2 a kg. The biggest sufferer was the brighter liquoring teas valued at over Rs 60 a kg.

Since the buyers punched lower bids than the expectation, the auctioneers refused to accept the bids in many cases. Consequently, about 20 per cent of the offer was withdrawn for want of expected bids.

Another buyer said that prices have fallen in the north Indian auctions as well. "Rains have dampened the markets there" he said. "Well-made teas got fair demand and prices even appreciated by Rs 2 a kg," an auctioneer said. Once again, Pakistan helped the fannings grades to be absorbed. But, this week, the exporters were choosy.

CIS shipper chose medium and plainer grades paying up to Rs 46 a kg. "Secondary leaf orthodex sorts tended easier up to Rs 3 a kg. Powdery orthodox dusts lost Rs 2 a kg," an auctioneer said.

Among the CTC teas from bought-leaf factories, Darmona Estate got the highest price of Rs 86.85 a kg followed by Homedale Estate (Rs 78.01), Professor (Rs 72.63), Shanthi Supreme (Rs 71.84) and Highfield Estate Special (Rs 71.11).

Among the orthodox teas from corporate sector, Kodanaad got the highest price of Rs 127 a kg, followed by Prammas (Rs 123.65), Corsely (Rs 118.55), Chamraj (Rs 117.02), Curzon (Rs 116), Colacumby (Rs 107.25) and Havukkal (Rs 105).

Quotations held by the brokers indicated bids ranging from Rs 40-42 a kg for plain leaf grades, and from Rs 62-65 for brighter liquoring grades. For the dust grades, the bids ranged from Rs 40-42 for the plain teas and Rs 63-68 for brighter liquoring teas.